My mother died recently. My sister owed mother a lot of money. The debt was from around 1997,1998. Mother was told to keep track of the money and she would pay back sometime. Mother had a file. She's paid nothing. I think I should get half the amount owed from her share of estate. Am I right or wrong?
Estate Planning Attorney
Did mother have anything in writing?
Was it secured with a mortgage of any type?
Were any payments paid with proof of payment?
You have to overcome any statute of limitations problems
with a legal reason..
The answer given does not imply that an attorney-client relationship has been established and your best course of action is to have legal representation in this matter.
Family Law Attorney
If the debt was from 1998, then the statute of limitations would have expired on the loan. This means your mother could not have sued to collect the money at the time she died. Therefore, it is probably not part of her estate and you will not inherit any of that money.
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Estate Planning Attorney
I agree with Attorney Reed. Additionally, many times loans to family members are forgiven in wills. And, since the loan was between your mother and your sister, it is their concern - not yours. If your mother had been concerned about getting HER money back, she could have pursued that. She didn't. Let it go.
Carol Johnson Law Firm, P.A. : (727) 647-6645 : email@example.com : Wills, Trusts, Real Property, Probate, Special Needs: Information provided here is anecdotal and should not be relied upon or considered legal advice. Every matter is different and answers given here are general in nature and may not reflect current Florida law at the time you are reading this posting. Please contact me if you feel you need additional assistance with your matter.
First, let me say that I agree that as a practical matter, you might want to forget it. However, many loans between family members are demand loans and we have successfully collected them. The Statute of limitations should not begin to run on a demand loan until demand is made.
How much was the loan? Who is the Personal Representative? How much do you want to spend in attorneys' fees? Those are all questions you need to ask.