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Dear Moneyist,<\/strong> <\/p>\n My 93-year-old father has dementia. He married his second wife, who is 91, four years ago. He did not make a last will and testament, and cannot legally make one now because of his dementia. He is not expected to live much longer because of heart problems. My sister and I are concerned about what will happen to his estate after he dies.<\/p>\n Also see:<\/strong> \u2018I\u2019m sick to death of him.\u2019 My 70-year-old boyfriend sits in front of the TV and has no savings \u2014 is it too late to tell him to leave?<\/a> <\/p>\n If he passes away, how much of a right does she have over his property and money, given that they have only been married four years? She says she is in charge of everything and we have no rights to anything. Is this true? She has included her friends, not us, in helping her with decisions made about Dad. I\u2019m lost and don\u2019t know what to do. <\/p>\n Marcia M. in South Carolina<\/p>\n Dear Marcia,<\/strong> <\/p>\n If you believe your stepmother is not acting in your father\u2019s best interests, you should seek legal advice. It does not appear that there is any financial or elder abuse happening here \u2014 at least from what you say in your letter \u2014 so you may wish to wait until your father passes away to take action. In that case, you could contest your stepmother as the administrator of your father\u2019s estate. <\/p>\n The probate court appoints an administrator, usually the deceased\u2019s spouse or his\/her children. You could petition the court to appoint you or your sister, or an independent third party. In most states, you have a limited amount of time to act \u2014 typically, 30 days \u2014 and it must be done in writing. You would need to provide just cause: dishonesty, incapacity. Personality clashes don\u2019t count.<\/p>\n Also see: <\/strong> My wife and I bailed out our son with his mortgage and car payments, and set up 529s for his kids \u2014 yet we have the daughter-in-law from hell<\/a> <\/p>\n In South Carolina, the estate is divided between the spouse and surviving children if there is no will. Nosal & Jeter, a law firm in Fort Mill, S.C., says intestate laws don\u2019t apply to<\/a> life-insurance proceeds; funds in an IRA, 401(k) or any other retirement account; or property they own together or property to which your stepmother has the right of survivorship.<\/p>\n Ultimately, your stepmother may be left with fewer assets than she anticipates. I hope you can resolve this situation and ensure that your father is comfortable during the time he has left. <\/p>\n Also see: <\/strong> \u2018Nothing is ever his fault, everyone is out to get him.\u2019 Our brother inherited our late mother\u2019s home and it was repossessed. He\u2019s now in prison \u2014 do I send him money?<\/a> <\/p>\n Do you have questions about inheritance, tipping, weddings, family feuds, friends or any tricky issues relating to manners and money? Send them to MarketWatch\u2019s Moneyist<\/a> and please include the state where you live (no full names will be used).<\/em> <\/p>\n Would you like to sign up to an email alert when a new Moneyist column has been published? If so, click on this link.<\/a><\/em> <\/p>\n<\/p><\/div>\n [ad_2]
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