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The Ramsey Show Highlights

My Family Wants "Their" Money I Inherited

The Ramsey Show Highlights

Ramsey Network

Business, Investing, Education, Self-improvement

4.5839 Ratings

🗓️ 27 April 2024

⏱️ 9 minutes

🧾️ Download transcript

Summary

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Transcript

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0:00.0

brought to you by the every dollar app start budgeting for free today my brother-in-law

0:07.2

recently died in his sleep and my sister had passed away in 2019 when their children met with

0:15.3

the insurance company they found out my oldest son and I were named as beneficiaries.

0:22.1

I think this may have been an oversight because the children were minors when they got the policy.

0:28.4

They still will get an IRA, a house, a car, etc.

0:32.4

The kids are pressuring me to sign over their money.

0:36.3

It would help to hear from someone not close to the situation.

0:40.3

What should I do?

0:46.4

Well, I think you need to make a decision of, was this an oversight?

0:53.0

If it was left to you to take care of them when they were minors and they're no longer

0:57.7

minors and he had just hadn't been diligent with his estate plan and fixed his beneficiaries,

1:03.8

then you are saying you accidentally did get money that was intended for them.

1:09.2

If that's the case, I would give it to them.

1:13.1

If, on the other hand, if we, that's what it sounds like, but if there's another

1:18.0

scenario that's like, okay, he wanted to leave us some money and he used the policy

1:23.5

to do that, and he very clearly intended to do that, and they just feel like they're

1:28.1

entitled to it just because it was their dad and mom, but they, but dad and mom had a very,

1:32.9

very clear intent to leave it to us, then they're just up a creek.

1:37.0

You're not entitled to anything because you're kin.

1:40.6

That's not, it's not their money.

1:43.2

But if you truly do believe what you said that you think it's an

1:46.8

oversight then on a moral basis i'd give it to them or option three

...

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