Quit Letting Broke People Give You Financial Advice!
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Who are today's hosts and what is the focus of the episode?
Hey guys, Dave Ramsey here. Me and Dr. John Deloney are coming to a city near you on the Money and Relationships Tour. It's happening soon, so don't wait. Get your tickets at ramseysolutions.com slash tour. Live from the headquarters of Ramsey Solutions, it's the Ramsey Show, where we help people build wealth, do work that they love, and create actual amazing relationships. Jade Warshaw, number one bestselling author, Ramsey personality is my co-host today. As we take your questions about your life and your money, we're going to talk about you right in front of you, honey. That's how we do it. And, hey, the phone number is free, and some say the advice is worth exactly what you pay for it. It's 888-825-5225. Jump in, and we will talk. Laurie is in Salt Lake City.
Hey, Laurie, welcome to the Ramsey Show.
Thank you, Dave.
Hey, what's up?
Well, my dad is going to leave my brother next to nothing when he dies, and he's not telling him. how do you know what did he tell you he told me that he set up a trust with a fiduciary and that he was going to leave different amounts to us three children in different ways and then he told me he had set up some other things in the trust to protect it
Okay. So you said that the brothers left out, but you just said he's going to leave something to the three of you. Is it a different amount of money? Yes. Tell us more.
Yes. He told me he was going to leave him $10,000. And what did the other kids get? I'm not sure because he hadn't said, but my sister, he didn't tell me how much. He just told me that he was going to give her a large lump sum of because she's the most fiscally prepared for the future, most fiscally responsible, makes the most, handles her money the best. Okay, what about you? Me? Yeah, so he set up monthly payments basically for 25 years. Oh, how much? $3,500 per month. Okay.
How old are you?
I'm 58. 58. Yes.
Okay.
This sounds like your dad is pretty controlling. It's a little bit gamesmanship manipulative, the way he's handling all this. Does that sound right?
No, I would not describe him that way at all.
Then why isn't he just telling your brother?
I think it's because he has experienced a serious lack of respect. And things have happened in the past that have hurt and already... struggling relationship um but struggled a lot pretty much from the very beginning and he just doesn't want to do it he's a year older okay all right well i wow
But it's not like a... Okay, number one, no one is entitled to an inheritance. It's your dad's money. He can do with it what he wants to do with it, okay? Right. Even if someone else thinks it's weird, it's his money, and he can do with it what he wants to. He's trying to not stir up a problem with your brother, it sounds like, where there's already problems, and this would just throw gas on the fire, is what you're telling me. Right. Okay. Yes.
Yes.
So, and he didn't tell you, I think he puts you in an awkward position by you not having the information and not telling the brother, but I don't think he thought about that.
No, he knows because I brought it up. I told him.
um that he was putting me in a really awkward position but you're not asked to administer it you have a fiduciary there's a trustee so you're not there's no way you get blamed because you're not in the line of fire you're not having to administer this to your brother the trustee will does the other does your other sister know that these are the plans as well
Yes. So maybe the converse, because here's where I'm getting at. I agree with what Dave said, but it's almost like he's not dealing with the problem now, but the problem will be yours when dad passes away because your brother, I don't know what kind of guy your brother is, but I would not want to, if I were you, I would not want to be in this situation where someone could feel resentment towards me for something that someone else didn't deal with. And now you're in the situation to have to say, well, I don't know why he did this. And that weight can be on you. That's the part of this that I don't like if I were sitting in your shoes.
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