Inheritance rights: A question submitted by Doris Woolfe

I have a special interest in Inheritance rights now that my husband has predeceased me. I want to leave it to a friend, if living, who could not afford to live in NY otherwise. or if she is not living, to my sister-in-law. Both are in their eighties and if their husbands are no longer living, will have a hard time supporting themselves. After the battle over my husband’s right to live here, I don’t know what to expect. I am seeing a lawyer about this. The Black Book was never clear. Has anything been clarified? Katy would only say I could leave it to whomever I wanted, but that did not mean they would be approved to live there. If not, could the apt lie vacant (if I am not here) til the 12 years are up, to be sold at market price? Is it more likely they would approve a relative than a friend.?? I have never had a clear answer!!! -Copied in Annoucement Comments: Doris W.

Advertisements

3 thoughts on “Inheritance rights: A question submitted by Doris Woolfe

  1. Doris -You will not get your questions answered here on this website; just opinions. Write an official letter to the Board. I believe it will put your fears to rest.

  2. Doris, as we spoke last night, this is a very timely issue because, sadly, we have had a number of deaths in our community this year and last. Several of them presented the board with unique circumstances for surviving members of the household. I will propose to my fellow board members that we devote some time to codifying our decisions toward the goal of providing the community with written guidelines to help with their estate planning.

  3. Doris,

    I am not an attorney but I share your concerns. I understand your situation as I am a single man without family to inherit. My mother is 92 and I believe I can reasonably expect to outlive her.
    One of the issues brought forth in last years election was the inheritance issue and the need for more clarity. Changing the black book is an enormous endeavor but I believe if a board of directors were to issue some sort of “guidelines of practice” it would be helpful for us all.
    Although I will not be a candidate this year I hope one of the topics of concern of the Committee 4 Change will be inheritance.
    It is important for all of us to be able to exercise reasonable control over our homes our money and our futures.

    Jim Jacobson

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s