Uncle taking financial advantage of grandma
My grandmother owned a few houses, rented them all of her life and my uncle helped her run them in the past several years. Several years ago, she wanted to retire so he was going to run them and pay her a salarly. He immediately decided he wanted to sell them and convinced her to signed them over to him. Now he's sitting on over $1.5M, bought a half a million home for himself and is paying my grandma several thousand a month with no legal obligation. She doesn't own a home, has no savings, is sick and one of her other kids have moved into her apartment to take care of her. I don't trust him and I want to have some legal infrastructure put into place to guarantee he continues to pay her. Also if she dies she wants her other children to get her payments so I would like to put infrastructure around that as well. If he refuses to sign any agreements, do we have any chance of claiming he took advantage of his mother and getting the proceeds of her houses back?
2 Answers from Attorneys
Re: Uncle taking financial advantage of grandma
Yes.
You say he "wanted to sell them and convinced her to sign them over to him" but he didn't give her any $$?
GET AN ATTORNEY NOW before she becomes either incompetent (or passes away). This will be alot less $$ than bringing an Article 81 later.
What is he paying her for? You said a salary but will he now say it is for the houses? You MUST straighten this out right away or once she passes you will receive nothing.
Re: Uncle taking financial advantage of grandma
No, realistically under these facts you will probably have very little chance of making any claim against your uncle after grandma is gone.
The judge will ask, "why didn't you do anything while mom was alive? Why are you waiting until after she died to speak up?" You will have almost zero chance of prevailing in a court of law against your uncle. The court will assume that whatever is happening now is with your grandmom's full consent.
If it's important enough for you and there's enough money at stake, you need to proceed under Article 81 of the NY Mental Hygiene Law and ask the court to appoint a responsible and objective person, which may or may not be someone in the family, to be the Guardian of the Person and Property (or perhaps only the Guardian of the Property), which gives another person complete legal authority to control the assets of someone who is mentally infirmed.
Since your uncle will no doubt contest the proceedings, you can expect from beginning to end that this will cost many, many thousands of dollars; perhaps $10,000 to $30,000; hard to tell, depending on how much money is at stake, the party who wins is many times the side who spends the most money hiring expert medical and financial witnesses and smart trial lawyers. Accountants can be hired to demonstrate how uncle was abusing his position of trust over the years, etc etc etc.
Good luck.
Rick Bryan
New York, NY
Related Questions & Answers
-
Power of Attorney for ailing relative If a relative becomes incapacitated and one... Asked 1/23/08, 4:20 pm in United States New York Elder Law
-
Legal age to dropout What is the legal age to drop out of high school in nyc? Asked 1/18/08, 2:30 pm in United States New York Elder Law
-
Liability for elderly parent's auto accidents My elderly father (94) will not... Asked 12/16/07, 5:30 pm in United States New York Elder Law
-
Need Guardianship Advice My brother petitioned the court for guardianship of my... Asked 12/10/07, 1:55 pm in United States New York Elder Law