Parents who fail to manage their financial affairs well often spark family disputes but a recent case involving an elderly woman serves as a cautionary tale as it resulted in three lawsuits among her kids who fought bitterly over her assets.
The family disputes dragged on for more than a decade and involved four of her five children battling over their mother's assets of about $1 million.
Their mother, who could not read or write in any language, often depended on others to manage her affairs.
Her ability to do so was further affected when she began suffering from dementia, which resulted in her talking "to herself a lot" and having "at least four imaginary friends". This started a few years before she died in 2017.
The first dispute arose in 1994, when her two daughters convinced her to transfer her house to one of the sisters' family without paying the agreed purchase price of $800,000.
The eldest son later sued the sisters on behalf of their mother and was successful in recovering the money. He used the $800,000 to open a joint account with his mother and later used part of some of the money to buy an apartment in both their names.
Some time in 2016, it was the eldest son's turn to be sued over the mother's assets. The suit was lodged by his youngest brother, who became their mother's legal representative after she had dementia.
But this suit was put on hold for over five years after their mother died because a third battle soon erupted over the administration of her estate.
In October 2021, the youngest son secured the right to manage the estate and, in the following year, he continued with the suit in the High Court to make his eldest brother account for their mother's assets.
Esta historia es de la edición November 26, 2023 de The Straits Times.
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Esta historia es de la edición November 26, 2023 de The Straits Times.
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