Legal Question in Wills and Trusts in New York
my parents are alive but want to divide their assets
My parents want to divide their assets now while alive instead of having a will when they pass away they have 3 properties in Brooklyn NY. And just my sister and I, we live in one of the 2 family house together .They want to do this because my sister is putting pressure on them so, they can buy her and her and her husband a house. My mother and father always tell me that they will split everything in half when they sell. But I over hear my sister�s husband telling her to convince my mother to give me less then half all together my parents properties are worth 1.2 million do I have any rights as their son ?( If they do sell everything and don�t split it in half as they promised me). I feel as if her husband knows what he is doing and just want the money. I would prefer that they keep their properties and not sell. My parents work very hard for what we have
2 Answers from Attorneys
Re: my parents are alive but want to divide their assets
This is a hard situation when one child is dominated by a greedy spouse and the parents are getting older.
What you can do is invest time and committment in your parents that they feel your love and support always. The danger is that they will feel isolated and dependant on the sister and greedy son-in-law.
You cannot control what your parents do with thier property while they are in this world or how they will write their will. But you can make sure that they feel your love and support whgile they are with you and this is a tremendous insurance policy against them falling under the influence of someone overly materialistic.
Re: my parents are alive but want to divide their assets
First, your parents can do with their property as they choose. They can give property away during lifetime and dipose of it as they choose by Will.
You have no right to inherit. The law gives you half of each estate if there is no Will.
You should talk to your parents and express your concerns and I think that you will find out that they are aware of the actions of your brother in law, etc.
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