This is Crazy: Sch.B - Must List Parents, Grandparents, Aunts & Uncles?!?

[BornAgain]

Good Grief! The Schedule B wants to know (question 20) all my (and wife's) interests in anyone's will or estate.

Has everyone here listed all relatives who might have included them in a will or who might pass anything on to them after they die (at some unknown point in the future).

Yeah, I can just see me calling everyone I'm related to asking 1) do you have a will, and 2) if so am I in it? Not!

This is crazy.

So my question is: Do we have to list all relatives who might have us on their will.

Or...

Do we just list wills we know we're included in and have specific knowledge of the will. I don't know if I'm in anyone's will -- I've never asked. I suppose I'm in my Dad's... but I'm not going to ask him. We don't know if we're in anyone's will, but we have living parents and one grandparent. No none of them are rich. Sheesh!

It's just plain rude to ask someone about their will and if I'm on it!

[SuzieBK]

I could be wrong, but I read that as to mean is there someone already dead from whom you'll be receiving money.

[BornAgain]

Thanks for replying.

I wish it was just for anyone already deceased. The current NOLO Chapter 7 book says this in their instructions for that line:

...the trustee wants to know this information because the inheritance becomes part of your bankruptcy estate if the person dies within the six-month period following your bankruptcy filing date.

[dingdong]

This is crazy.

So my question is: Do we have to list all relatives who might have us on their will.

Or...

Do we just list wills we know we're included in and have specific knowledge of the will. I don't know if I'm in anyone's will -- I've never asked. I suppose I'm in my Dad's... but I'm not going to ask him. We don't know if we're in anyone's will, but we have living parents and one grandparent. No none of them are rich. Sheesh!

It's just plain rude to ask someone about their will and if I'm on it!

I listed Bill Gates. I was thinkin' if I write it down, hey it has to be true!

Just joshin'


I believe it means if you are expecting an inheritance in the future, that may be in probate or part of a trust, than you would list it as a possible asset. I believe you would have to know exactly what you were gifted to listed.

It would be impossible to list items that you do not know about or the value of an estate prior to death as the estate can diminish quickly due to thngs like long term care costs etc and ademption laws.

I am not 100% sure though.
But I and my sister are the only heirs to my mothers estate ( which probably will be debt, not an asset!) I didn't list that as a possible inheritance. Never even crossed my mind to do it.

[BornAgain]

dingdong, your take on how to approach answering that question makes perfect common sense -- which is why I (cynically) suspect that the trustees hold an opposite view. LOL

Thank you too for your insights.