Hope someone knows the answer

bettystApril 19, 2006

I did not know a place to post this question so hope someone here can help.Ã

Three years ago my FIL passed away. He did not have a will instead had his son(my husband) and daughter(sister-in-law) listed as joint owners on all his stock. My husband has tried many times to get his sister to sign papers to remove his dad's name from all the stock...even the lawyer talked to her but she will not do so. He has not spoken to his sister since his father's death. I am worried that the IRS is going to fine both of them for not removing his name and the dividens are paid back into the stock to buy more stock. BUT it is taxable income...see why I am worried!

ANY ideas what to do...it takes both of them to sign to remove his dad's name.

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Your husband should consult an attorney. It may take a court decision to determine how this matter is resolved.

Has the estate been probated? Did the court appoint an executor? What does she say?

    Bookmark   April 19, 2006 at 4:53PM
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It did not need to be probated persay,as everying he owned was held in jt ten with my DH and his sister. Sister got the house as she lived in it with her dad...old maid!! The bank accounts were in all 3 of their names so they were split between the two. She is just NUTS and have become very mean!!!She has always been very socially delayed...not retarded but just a home body....no friends and no dates. VERY SAD!

    Bookmark   April 19, 2006 at 6:59PM
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Your husband still needs to consult an attorney. Probate or not, it may yet take a court decision to determine how this matter is resolved.

    Bookmark   April 19, 2006 at 7:06PM
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it sounds to me like she can't let go of her dad. by keeping his name on things he is "still there". if she goes thru the process of actually removing his names from legal documents then she is in essence saying he is really gone.

i think you need to get a lawyer for yourself and husband and a shrink for her, though not necessarily in that order.

    Bookmark   April 20, 2006 at 9:48AM
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So these stocks are now held jointly by your DH and his sister? W/ a third name--the deceased--also on them?

If so, you'll probably need an atty to straighten it all out. What if someone wants to sell? Do they need permission of the other?

    Bookmark   April 21, 2006 at 12:37PM
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