Am I required to pay back an advance on an inheritance, to keep settlement equitable with siblings?
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Am I required to pay back an advance on an inheritance, to keep settlement equitable with siblings?
To cover my divorce expenses, my mother advanced me a substantial amount from her living trust. When she passes, am I required to reimburse the estate? It is unlikely in funds or property that twice the amount of the advance will remain for distribution to my 2 siblings.
Asked on August 5, 2012 under Estate Planning, Ohio
Answers:
M.T.G., Member, New York Bar / FreeAdvice Contributing Attorney
Answered 12 years ago | Contributor
This is something that you need to discuss with your Mother. Was this an advance on your inheritance? Is there a document amending the trust or memorializing this as a loan? You need to figure it out as soon as you can and while your Mom is still around. Good luck.
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