Monday, June 12, 2006

you should have a will dammit

well, here's a tough lesson that you if you don't learn then your beloved family pays the price. literally.

so my half-brother's mom (my dad's first wife; my mom was his second) passed away recently. that sucks, but even worst she didn't have a will. by law, her assets have to go through state probate. ultimately, that will cost her family about $13,000.

what's worse, her son, my brother, ken has been paying the mortgage on her house for the last 10 or so years but the deed on the house was under joint tenancy with the late Sharon and a family "friend." under joint tenancy the property is owned 50/50 with NO survivorship, meaning now that Sharon has passed away the entire title belongs to this so-called friend. well, ken has seen this friend maybe twice since he moved out of the house in the early 90's and has been paying the mortgage since then. this friend paid rent while he lived there but has hardly been seen since. now, technically the house is 100% his because his name was never removed from the deed. we hear that he has a new girlfriend who's son is in real estate and have the feeling that ken is going to get taken for all he's worth. lesson: take care of your paperwork and make yourself a will otherwise it gets really ugly when you die.

i still think people are good and do the right thing but here's a perfect example of someone NOT making good and doing the wrong thing. makes me sick to my stomach.

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