Savings in mothers account passed away

Kaleb2015

I’m really bad at saving for myself. For about 20 years now I’ve been giving my mother €100 every week to put in her account as I know if I hold onto it, it will get spent. My mother passed away a few months ago with a will saying all her assets where to go to her four kids. The savings account in question is just my money and she has one of her own. Unfortunately because I’ve been giving the money in cash I have no evidence it’s mine. My siblings know it’s mine but they have no saving and when they found out how much was in it. Let’s just say they wanted their share and there is nothing I can do. As well as my money I was giving €200 from the children’s allowance every month for 10 years so there is just over €120,000. I’m not looking for advice. Just somewhere to vent where my family won’t know it’s me. I’m looking now at my family all going on holidays and buying cars and treating themselves with my money and it’s sickening.

10000maniacs

Why didn't you use a bank?

banie01

You want somewhere to vent where your family won't know it's you?

Fair enough, can appreciate that particularly given the situation.

But, you do realize that if anyone you know sees your post? That it's rocket science to work it out given the info you included?

I am very sorry for your loss and for the impact that your siblings shítty grasping has had on your financial situation.

I hope that you can at least cope with the loss of money, and of relationships due to their choice to thieve from you.

This may come across as a bit harsh but looking at things in the 'round'.........what did you expect?????? You claim you were giving Mother a wedge of €€€ every Month, year after year, then when Mother leaves this mortal coil you appear shocked/ stunned that her last will was an 'even split to offspring' will??? Forward planning & succession planning are essential, for tax reasons if nothing else.

RobbingBandit

If there's two separate accounts surely the one you put the money into can be identified as solely yours and the other sit between your siblings best compromise really.

osarusan

Those numbers only add up to €48000.

banie01

https://www.boards.ie/discussion/comment/117951396#Comment_117951396

You might want to recheck that.

(100x52)x20 =10400, plus (200x12)x10 = 24000 for a total of 128k

osarusan

https://www.boards.ie/discussion/comment/117951505#Comment_117951505

Ah yeah my mistake, I thought it was both monthly.

osarusan

Anyway, OP, vent away.

Is there anything that can be done legally if it could be proven that the siblings know it's the OP's money?

Larbre34

No point sticking your head in the sand. Get a solicitor of your own to represent your position (you do not want to get turned inside out by your family or the executor here). You will need some evidence of this arrangement, or these contributions.

My guess is that if you have none, your mothers Will, will be executed as written and you will get a quarter share.

When you gave that money to your mother and it was put into her account, it stopped being yours and became hers. That may have been a bit naive on both your parts, but she doesn't have the characteristics of a bank and without proof of anything, well thats that. To anyone else reading this, never do anything similar, use a credit union.

HBC08

If you were giving your mother that amount of money every week wouldn't she have to pay tax on some of it?

Not sure what the situation is from child to parent but from parent to child you can only give €3000 per year per parent without paying tax ,(I think)

1874

Penalty for not being capable of being financially prudent/responsible/sensible, as you say, you have no proof AND

if you held onto it, you would have nothing, so you are up 32000.

Not sure if this is a wind up, but childrens allowance is for children, not saving, you dont seem to have been stuck for money if you were saving 200 per month from that plus the rest, I thought it was 140 per month per child, not sure how many children 200 is for?

I know someone who is financially irresponsible, fantastic wage, but hardly a bean to their name, constantly in debt/pay it off and all over again, they also took to saving with other people because they couldnt trust themself to not touch it. You should have opened a post office account, a seperate bank account where it was siphoned off to or some other savings scheme where better interest was accrued.

You could easily have predicted this, no sympathy.

BobHopeless

Sorry for your loss OP and some of the responses on here.

Get a solicitor is my advice.

BorneTobyWilde

https://www.boards.ie/discussion/comment/117951505#Comment_117951505

Yea you'd want to recheck that to 😃

(100x52)x20 =10400, plus (200x12)x10 = 24000 for a total of 128k

jmreire

A solicitor would be good advice, but just a thought from me. As you explained, you gave your Mother €200 regularly to hold for you, OK ? And presumably, your Mother banked it, so thats a trail to follow? From "X" date to "Y" date? Not sure how helpfull this would be, but if it was on a regular basis, maybe worth following up?

Personally, engaging the services of a solicitor would be ill advised. Every day somewhere in Ireland someone walks into a solicitor with the " aunty Mary always told me the house would be mine one day" story. What would you expect a solicitor to do??? Straight away other 3 siblings will engage a solicitor.......now, let's say it does end in court as a contested will case, the onus on op is exceptionally high. Here's the kicker though.... the costs will eventually come out of the estate.......say 1-2 days in high court with senior& junior counsel.....that 120K will disappear fairly quickly. Aside from the fact any inter family relationship is now history , it's the legal eagles get all the €€€€, solicitor s love contested will cases