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As most of you know my mother-in-law passed away in June. She left her small estate to her sons, my husband and his brother. I have just realized the meaning of the phrase "Easy come easy go". The estate was divided between the two of them. Then we had to pay what ever taxes and monies due. Then the stock market (did I mention it was all invested) tanked and tanked and tanked some more.
I had been told a long time ago that I would come into some money when I was an older person. And I got to thinking about that when it dawned on me that I was told I would come into it but not how long I would have it. I started laughing. What else could I do. The prediction came true if only for a short amount of time.
So if you are ever told you will come into some money. Remember this, it can be any amount from 1 cent to what ever you dream of. But also remember, no guarantee for how long you will be able to keep it.
My mother passed away in June 2008. I was the executor of her will and actual only heir. She had a condo to sell valued at $109,000. It still has not sold as of today, January 17, 2009. She had $37,000 in cash. Between attorney fees, funeral costs, inheritance taxes, property taxes and keeping up utilities and association fees, there is less than $9000 left in her cash account. ($10,000 of the $37,000 also went to my kids as mentioned in her will)
We thought we had the condo sold once in September but that fell through when the meldown happened. Now we are waiting for another persons house to sell so she can buy the condo. The whole thing is terribly depressing
I have heard news reports about BIG lottery winners going broke or bankrupt within a few years. Yours is a different story though. Sorry to hear that you couldn't keep what you gained