My Dad

Joined
22 June 2007
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208
Location
SEBASTIAN FL
I’ve sat on this for several weeks knowing I would eventually share two stories with the Prime community. I hope the second part of the story opens your eyes to take action if you've been thinking about it or just putting it off.

Part 1. October 15th, my Dad of 93 years passed away. Losing any loved one is difficult. Not only was he my Dad, he was also what I consider an American hero, like many of his day. After growing up on a Texas ranch, he entered the Army Air Corps and became a pilot and entered the fight to stop Nazi Germany. We all know of the Memphis Bell story where the crew was allowed to go home after 25 combat missions. Well, my Dad flew modified B-24s out of North Africa. He selected his crew much like Pappy Boyington, selecting misfits, but who were great at what they did. His missions were the prelude to today’s Special Operations. Low level at night, in occupied German territory, landing into fields where someone would hold a flashlight at one end to show the landing area and one at the other telling him, that’s the end of a makeshift runway in an open field. They off loaded “special agents”, currency in diamonds and gold for the underground and picked up downed crews and other “special agents”. Many of these flights were prior to the Normandy invasion and France’s liberation. So after his 25th mission, his skills were something the Army wouldn’t let go of. If any of you know WWII history, you will know the challenge we had taking out Polesti, the Romanian oil fields which fed the German machine. Our losses were so high we gave it up as a target. On a single mission, over 300 planes went in with 50% or higher losses. He flew missions against Polesti. My Dad was awarded several medals, they included The Air Medal with 11 devices, the Croix de Guerre with Gold Star and the Distinguished Flying Cross. The Croix de Guerre was personally pinned on by Charles de Gaulle. Before my Dad returned home to ranching, he completed 56 combat missions and was shot down twice. He eventually reentered the Air Force and flew various aircraft to include the B-36 and B-52. Twice he and his crew won the General LeMay Navigation and Bombing Trophy, out of all Strategic Air Command bomber crews. Needless to say he was my idol and may he rest in peace.

Part II. My Dad remarried in 1976 and she survived him. My Dad was the last living heir to my relative’s estate. They lived in Texas, New Mexico, Oklahoma and Colorado. They were speculators who staked their claims and were rewarded with oil and gas and mineral rights. This wealth was passed to him. He spent the mid 1990s finding his inheritance. My Dad’s wish was to place these royalties and wealth in a Living Trust, to be shared and handed down thru the generations. The reality was he was inflicted with dementia that slowly progressed in the late 1990s and coupled with a stepmother with her own agenda, the Living Trust was never prepared and his wealth was absorbed by her. So far it appears there isn’t a will, but one really isn’t needed, as she had already taken it all before he passed. Today we are left with upcoming court proceedings to recover our inheritance.

We shouldn’t be in the position we are, but we can’t go back and change anything except do what we can in the present. If you have parents and especially if you have parents that remarried and there are personal treasures in addition to monetary assets, they need to get their Will or Living Trust, Power of Attorney and Living Will completed. If you haven’t then you need to do this for your family. Your family needs these documents in hand to inhibit any coercion or other acts to take them from your family. We have learned in Oklahoma, a stepmother is no more that a single entity. I have two brothers and sisters, so including myself is five, with our stepmother she is six. Therefore she is only entitled to 1/6 of the assets. There is a lot more to this as it unfolds in the months ahead. I hope this is informative and gives you something to think about and to take action on.
 
+1!

It is important every one has:

1) Living Will (or advanced medical directive)
2) Will
3) Power of Attorney

These are important documents and it may seem like a hassle to do them and you may not think you need them, but they are critical that you spend the time to get them completed. There are many websites that will have templates for your state that you can use as a basis so it's not as hard as you think.

For those that don't know what each are, in very basic and non-legal terms, they are as follows:

1) Living Will - Basically this gives people you grant the power and right to make decisions for you if you are still alive, but can't make those decisions on your own. Example, would be you are in a vegetative state. Remember the Terri Schivo case where her husband wanted to "pull the plug", but her parents did not. Because nobody was assigned this power, it took many years and lots of frustrations to resolve this. In the living will you can declare who can make the decison to "pull the plug" on you should you be in that condition.

2) Will - Once you die, the Living Will goes away. Your Will basically declares who gets what. So you can leave your Dog, Fluffly, all of your assets including your entire BeeGee's record collection. If you do not do this, the state laws will determine how to best disseminate your assets and it usually follows an equal split among relatives. This often is not what you will want, so a Will is important to set up before you die.

3) Power of Attorney - This is often included in the Living Will but doesn't have to. What the Power of Attorney does is to give a person the full rights to make decisions while you are alive. Again, like the Living Will, once you die, this goes away. Again, let's say you are in a vegetative state. The Power of Attorney will allow someone you assign, say your wife, to sell the house on your behalf, even though you are still alive, in order to pay for medical bills or whatever. Or say you get abducted overseas and your wife needs to sell your car (with only your name on the title) for ransom money. Without the Power of Attorney she wouldn't be able to do that. Needless to say, you only want to grant this power to someone you 100% trust.
 
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I couldn't agree more!

Thanks for the heads up Mizz and thanks for the breakdown Vega$. I am sure people will benefit from that information!
 
Thank you very much for sharing your dad's life with us. Nice to know men like that lived to enjoy their lives and make it to a ripe old age.

As far as the step-mother, I hope you prevail and get all your father intended. Fortunately, I did all this stuff when my parents were still mentally intact so I fortunately face no issues as my father, who survived my mother, begins to suffer from dementia.
 
It's nice that you have such good memories of your dad and his life. We are losing our WWII soldiers at a rapid rate now. It's up to us to remember them and their contributions.

As for your stepmother, it's a shame that some people are so greedy as to deny others their due. I have a friend whose dad made it very clear to everyone that his kids were to inherit all his wealth. Unfortunately he never told his lawyer. Now his kids are left with nothing and the 2nd wife has everything. You gotta hope Karma catches up to her in this lifetime.
 
first, my condolences on the loss of your very special father - i'm sure you re-lived many of his life experiences with him in conversations over the years... he sounds like quite a guy.

you're exactly right on the other issues you raise and i wish you all the best in achieving the goals that reflect your father's wishes... and i'm sorry for the trouble you're dealing with / will deal with until then.

my experience with my 85 year old widowed father (has a will, advanced health decree, etc) is that the older / more frail he gets, the more difficult it is to speak to him about some of these issues without feeling like i'm hovering over him... a very fine line that i'm very careful about treading on.

as for greed... man, it's everywhere and doesn't show many signs of letting up.

again, my condolences on losing your father.
hal
 
Thanks for sharing this - difficult no doubt, but hopefully helpful to others. My condolences on the loss of your Dad - he is a true American hero.

In our investment practice we always ask our clients about their Will, Living Will or Trust, and Power of Attorney. There are a lot of smart, and wealthy folks that don't have these. I suspect it is just one of those things that we push off onto another day - due to schedules, cost, and it is just one of those things nobody wants to think about. But, very important.

Another basic we see all too frequently is the number of people who don't have an excess "Umbrella" liability policy. Cheap cost for a lot of coverage. In this day of litigation one bad accident or suit and ones entire net worth can be wiped out. Or worse, one could lose their NSX :eek:

Again, thanks for thinking to share your story. Best wishes. Jay
 
Sorry to hear of your father's passing. A true legend and hero.

I'm 34 years old and just completed my Will with my wife. Living overseas we have special considerations that need to be addressed if I were to depart this life. My parents both have completed their wills including any directives too so hopefully we are not reading any of these anytime soon.

Thanks for the reminder though.:smile:
 
i'm sorry about the loss of your dad. mine was also in wwII,in the medic corps helping wounded soldiers.i wish i had talked more to him about it when he was alive.
best of luck to you
 
Best to you and your family.

Karma is a bitch. It really is. Some people find out the hard way. :frown:
 
Part II. My Dad remarried in 1976 and she survived him. My Dad was the last living heir to my relative’s estate. They lived in Texas, New Mexico, Oklahoma and Colorado. They were speculators who staked their claims and were rewarded with oil and gas and mineral rights. This wealth was passed to him. He spent the mid 1990s finding his inheritance. My Dad’s wish was to place these royalties and wealth in a Living Trust, to be shared and handed down thru the generations. The reality was he was inflicted with dementia that slowly progressed in the late 1990s and coupled with a stepmother with her own agenda, the Living Trust was never prepared and his wealth was absorbed by her. So far it appears there isn’t a will, but one really isn’t needed, as she had already taken it all before he passed. Today we are left with upcoming court proceedings to recover our inheritance.

We shouldn’t be in the position we are, but we can’t go back and change anything except do what we can in the present. If you have parents and especially if you have parents that remarried and there are personal treasures in addition to monetary assets, they need to get their Will or Living Trust, Power of Attorney and Living Will completed. If you haven’t then you need to do this for your family. Your family needs these documents in hand to inhibit any coercion or other acts to take them from your family. We have learned in Oklahoma, a stepmother is no more that a single entity. I have two brothers and sisters, so including myself is five, with our stepmother she is six. Therefore she is only entitled to 1/6 of the assets. There is a lot more to this as it unfolds in the months ahead. I hope this is informative and gives you something to think about and to take action on.

Ok, first, I am terribly sorry for your loss. I can't imagine losing my Father who has meant the world to me. I appreciate you sharing your story, and I assume you have done so with the mindset that some of us can help you work your way through the inheritance issues you are experiencing.

Have you put yourself in the place of your Fathers wife? You said they had been married since 1976? Bud, that is 34 years. It isn't like she showed up at the end of his life when he was frail and then took advantage of his condition for profit. I don't know what your relationship with your Step mother is, but after 34 years of marriage I'd say her relationship with her husband sounds to have been pretty solid.

Now, I can imagine it is devastating to lose your father, but at the same time I am hard pressed not to empathize with his wife and her desire to continue living in the manner I am sure she has grown accustomed to. You mentioned that she has "her own agenda" I guess before i could admonish her actions I'd have to know what that agenda is. Is she giving gobs of cash, and heirlooms to her own kids and leaving you out of it?

I guess everyone's situation is different, and i feel fortunate that mine doesn't seem similar to yours.

I have a Step Mother too, and there is one thing I am certain of: Any wealth my Dad has earned, or inherited is hers first if he should pass away. She is his chosen partner in life- She is his wife. Anything and everything is hers unless otherwise stated in a will and testament. Even then, my first priority would be to see to it she has my complete support.

I'm still a relatively young guy with a lot of career left to make my way in the world. She will (hopefully) be of advanced age when my father passes, and therefore will need their resources for support in her retirement.
I'd like to inherit some of my Dad's heirlooms, but aside from that I am of the belief that I am his legacy.

You have told us some wonderful things about the man your father was. I sincerely hope you can hold onto that. I also sincerely hope that the magnitude of the man is not lost due to some squabbling in the courts.

I wish you the best.

P
 
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Ok, first, I am terribly sorry for your loss. I can't imagine losing my Father who has meant the world to me. I appreciate you sharing your story, and I assume you have done so with the mindset that some of us can help you work your way through the inheritance issues you are experiencing.

Have you put yourself in the place of your Fathers wife? You said they had been married since 1976? Bud, that is 34 years. It isn't like she showed up at the end of his life when he was frail and then took advantage of his condition for profit. I don't know what your relationship with your Step mother is, but after 34 years of marriage I'd say her relationship with her husband sounds to have been pretty solid.

Now, I can imagine it is devastating to lose your father, but at the same time I am hard pressed not to empathize with his wife and her desire to continue living in the manner I am sure she has grown accustomed to. You mentioned that she has "her own agenda" I guess before i could admonish her actions I'd have to know what that agenda is. Is she giving gobs of cash, and heirlooms to her own kids and leaving you out of it?

I guess everyone's situation is different, and i feel fortunate that mine doesn't seem similar to yours.

I have a Step Mother too, and there is one thing I am certain of: Any wealth my Dad has earned, or inherited is hers first if he should pass away. She is his chosen partner in life- She is his wife. Anything and everything is hers unless otherwise stated in a will and testament. Even then, my first priority would be to see to it she has my complete support.

I'm still a relatively young guy with a lot of career left to make my way in the world. She will (hopefully) be of advanced age when my father passes, and therefore will need their resources for support in her retirement.
I'd like to inherit some of my Dad's heirlooms, but aside from that I am of the belief that I am his legacy.

You have told us some wonderful things about the man your father was. I sincerely hope you can hold onto that. I also sincerely hope that the magnitude of the man is not lost due to some squabbling in the courts.

I wish you the best.

P

From the outside you could say 34 years is a long time. Our relationship has been good, or at least I thought. I won't/can't document what has happened over the years. Fundamentally our Dad wanted his estate in a Living Trust for all his heirs. It was never intended to go to one person. We have a personal letter between them that is very enlightening. Read it once and you'd be shaking your head to the nerve she has. This isn't simple squabbling to take place in a court room. I can say, medical neglect... I can say conspiracy to commit lethal harm and there are others to add. There are official complaints documented with the local law enforcement. Yes, 34 years is a long time. It doesn't hold up to my 54 years. Nor does it hold up against my relatives that did the hard work years ago to simple go to an individual that moved all assets in her name before his death, has testified in court that she was the only living heir to my Dad's estate, whoops...she seemed to forget our Dad's five sons and daughters. This scratches the surface a bit.....
 
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