How to distribute a delayed inheritance?

My grandmother had some bank accounts in hers and her 2 daughter’s names; in her Will she named both daughters as co-administrators. She died and neither daughter filed as administrator until almost 2 years later. One daughter’s illness progressed and was she was put intoi a nursing home, so her son asked the other sister not to proceed with distribution because he did not want any additional funds in his mother’s name at that time. Then his mother passed away and the bank told the administrator the money was hers by law. Now the deceased sister’s son wants half the money but it would be considered a gift if she split the money. Is there a legal way to split the money without it being considered a gift? Her health isn’t good so she shouldn’t be giving “gifts” for various reasins.

Asked on February 2, 2013 under Estate Planning, West Virginia

Answers:

FreeAdvice Contributing Attorney / FreeAdvice Contributing Attorney

Answered 7 years ago | Contributor

The money is a gift under the terms of the presumed joint bank account that was set up by the deceased grandmother that went to the two daughters under the laws of all states in this country. The bank account's proceeds should have been distributed shortly after the grandmother passed where each daughter would presumably receive one half of the account.

The distribution to the grandson would be what his mother's estate would be entitled to. Given the complicated nature of your question I suggest that you consult with a Wills and trust attorney to help you in the matter.


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