I visited with my mom for about and hour and a half. Walmart was delayed with having my order ready at 11 (it was noon or a little after) but that's ok. At least their check in app finally worked again and once I pulled in and checked in which spot I was in I only had to wait about 5 minutes or so before they brought my order out.
Mom was good and in good spirits (she almost always is, LOL). I brought up uncle having a 30% share in her retirement funds beneficiaries and she said she thinks that is too much. I said, so do I and without me giving any other input she said "besides who would he leave all that money to? who would get it?" She said it's one thing if he was leaving it all to me, but then I said honestly, with him, you never know for sure and she said she agreed. I then tried to call her retirement account's assistant lady, but got her voicemail. She must be off today, as she hasn't returned my call. But, at least I finally got the ball rolling to "fix" this. I also reminded her that she has given him quite a bit of money the past 10 years, as well as he got her car, that he sold. (when I looked her car make and year online at the time she gave it to him, I think it was worth about $7k)
I thought about it on the drive to and from her place. I think I will put him down to 5% and take that remaining 25% and give an additional 5% to each 4 step siblings and 5% added to my %. Or maybe just bump their shares up from 2.5% to 5% each and add 15% to me. I'll see what mom feels like when I get to filling out the new form. She totally understands the situation (like I said she brought up the concern of who her brother would leave all her money, too, LOL) it's just that she doesn't remember the next day we talked about it. Sigh.........
While waiting for Walmart to text me the order was ready I stopped at Lowes for some grass seed and to look at outdoor mats. Ran into our neighbor and his little boy. His dad said I thought you looked familiar. Boy says "ya, and I recognized you from "dh's" (insert dh's name) house!" HAHA! he is such a hoot. Little kids are the funniest. And I got to hear about his broken arm and longer term cast he just got put on, in place of the temporary one.
I'm glad your mom is in agreement with you about her will - just hope she remembers she said all that a bit further down the line!
ReplyDeleteI hope she does, too.
DeleteHow much younger is her brother? I'd never imagine leaving funds for a sibling when I have children of my own. I might include provisions that my children must make sure a sibling is provided some support, if called for, like helping to cover an annual cost, or other direct support. Kim mentions she and siblings provide support annually for an aunt out of wishes by her dad. We all do what works for our situations.
ReplyDeleteHe's 2 1/2 years younger than she is, he just turned 78. I'm like you, I can see no reason to leave him any of it! And yes, if he needs support I would for sure do that to help with what I inherited from her.
DeleteAs you had mentioned before, the reason your mom has this wealth is because of your dad, so maybe your step-siblings should get more of the uncle's share? If it were your father rather than your mother, how would he want this divided? Maybe thinking from that perspective may help. Have you mentioned any organizations that she may want to include (her church, pet rescue, Heart Association, Salvation Army, etc.)? Possibly they could be recipients of a portion. Just a though & maybe something to bring up with her.
ReplyDelete** Just a thought I had - you & your husband have a will? Is your son included in that?
Hopefully everyone has will made up so that when the time comes, your loved ones know exactly what your wishes are. It's never too soon do get one done if you haven't!
That's what I'm thinking, to use uncles share to increase most of it to them. Yes, it was greatly due to my dad, but also due to her and her thriftiness (that's where I get it from!) all these years. He passed away in 2009. She could have easily decided to start spending some of it on herself, but she never did. She was supposed to travel, etc, but then she started seeing that boyfriend and he wouldn't go do anything, barely even go out to dinner! So, it just sat in her account all these years and doubled again.
DeleteYes, we have will and at this point have taken son out and I have my dd listed as my secondary beneficiary on my 401k and life insurance.