MW 'I am suspicious': My father died, leaving me $250,000. My brother says it's all gone. What can I do?

By Quentin Fottrell

'My brother and I are named as co-executors in his will'

Dear Quentin,

My father passed away in New York about six months ago; my mother died before him. My brother and I are named as co-executors in his will. I haven't spoken to my brother in about 10 years. Our father left his house to my brother and I am to receive $250,000, and we are to split the rest of the assets between us.

My brother lived near my father in New York. I moved to California with my wife and kids almost 30 years ago. My brother and his family ended up taking care of my father's house, bills and accounts. Although I often spoke with my father, my brother and his family were very close with my parents.

I have just started receiving documents, which include a copy of the will. When the will was written 10 years ago, after my mother died, I believe my father had in excess of $250,000 in cash and assets. My brother tells me now that there is nothing left. Over that 10 years, I suppose our father could have spent the cash, although he did not live extravagantly and had a full pension along with Social Security and investment dividends.

'I believe my father had in excess of $250,000 in cash and assets that he intended to leave to me. My brother tells me now that there is nothing left.'

My brother has taken over the house, which includes all of the furnishings, and also two vehicles. I've asked for copies of bank statements, investment accounts, etc., but the response is cold and often just a reiteration that there is nothing left. An attorney would be my last resort, and if there is in fact nothing of the estate left, I would have to personally pay the attorney.

Should I be entitled to receive the value of the furniture left in the house, up to the $250,000, or would that be split if there actually isn't $250,000 in cash value to allot? As co-executor, I believe I could request copies of account statements, but I don't know what bank my father used or have any other contacts.

Aside from a nonexistent relationship with my brother, and a closed door on that possibility from his side, is there anything you can suggest to help me tackle this? I don't know my brother well, but I am suspicious given that he is not more open with me about this, and since he had signing privileges, he could have helped himself to funds.

A Brotherless Son

Related: 'She has two financially stable children': Does it make sense for my wealthy mother, a recent widow, to take out a $100,000 life-insurance policy?

Dear Brotherless,

You need to exercise your rights as a co-executor.

Your sign-off is heartbreaking, but I don't believe that your doing nothing will turn your brother into the sibling you want him to be. Nor will challenging his clearly inadequate role as co-executor of your father's estate, a process that you should have been involved with and included in from the very beginning. But it's important to stand up to people, even - and especially - family.

An executor's responsibilities are extensive. They include maintaining any real estate, paying the mortgage, making sure squatters don't occupy the property, clearing out and distributing furniture and other items to heirs, and staying current on insurance and real-estate taxes. As co-executor, you have a right to access your father's accounts.

If you and your brother had together inherited your father's home, you would split the furniture by mutual agreement. Given that your father left your brother his house in his will, it seems likely that the contents of the house would be included in that, unless otherwise stated in the will. If there are any items of sentimental value, you may have to rely on the kindness of your brother.

Your brother has a fiduciary responsibility to act in the best interest of the estate and to do so with transparency.

Contact a trusts-and-estates attorney if you wish to see this through, and find out whether there has been any financial malfeasance regarding your father's estate. If your brother was listed as a co-owner on his accounts, they will avoid probate and will have transferred directly to him upon your father's death. Or it's possible that he may have emptied them through more nefarious means.

In New York, an executor is only required to probate an estate - essentially a public accounting and distribution of the assets - if the assets, at the time of death, do not exceed $50,000. There is a more streamlined process for smaller estates. Either way, your brother has a fiduciary responsibility to act in the best interest of the estate and to do so with transparency.

"Executors don't have unlimited or absolute authority over beneficiaries or estate assets," says Hess Verdon, a law firm. "Their powers are guided by legal documents making them accountable to state laws and courts. According to the law in all 50 U.S. states, you can remove a co-executor of an estate if they are found to be unethical or incompetent."

The firm adds: "You can file a petition and remove them in probate court. You could remove both or one co-executor if you find them incompetent, reckless, negligent, or abusing their power. Often, most executors are family members who are also beneficiaries of the will and may be tempted to act in their interests. In such cases, you could consult with an attorney."

If civility brings no recourse, legal action is often the only solution.

Related: I take pride in being debt-free': My husband owes thousands of dollars in student loans and credit-card debt. Will I be on the hook if he dies?

You can email The Moneyist with any financial and ethical questions at qfottrell@marketwatch.com, and follow Quentin Fottrell on X, the platform formerly known as Twitter.

The Moneyist regrets he cannot reply to questions individually.

More columns from Quentin Fottrell:

I'm 54 and have terminal cancer. I have a wife, 47, and 8-year-old child. How do I split my $1.2 million retirement and life insurance?

'He has never paid rent or utilities:' Do I have the legal and moral authority to charge my brother rent to live in our family home?

I'm a 59-year-old recluse with PTSD, a cancer diagnosis and no living relatives. What should I do with my $900,000 life savings?

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-Quentin Fottrell

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April 22, 2025 06:18 ET (10:18 GMT)

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