James P. Frederick Livonia Estate Planning Attorney
Posted almost 14 years ago.
The problem I see is, if it is treated as an advancement, it is WORSE than simply paying the money back to the estate. If the money is paid back, presumably asker gets 50% of the money back as a beneficiary. If it is an advancement, it counts against her 100%. If it is treated as a gift and does not need to be paid back, ASKER gets it 100%. That is a big range of possible outcomes.
It depends on the evidence. If there is nothing in writing, it is anybody's guess what a judge would do.
Timothy Edward Kalamaros Mishawaka Estate Planning Attorney
Posted almost 14 years ago.
And ask your lawyer if these gifts would be considered "advancements" under Ohio law, if in fact that is where your parents resided when they died.