By Anonymous - 14/09/2009 15:03 - United States

Today, I overheard mom talking about how my youngest sister was the only one who used the money from the insurance settlement from my dad's death responsibly. I was in my first semester of college when she cashed in mine for a vacation. I had to drop out. FML
I agree, your life sucks 53 667
You deserved it 2 503

MomsFavorite tells us more.

MomsFavorite 0

Sorry, the limits on number of characters made my description a bit light on details. Dad was killed in a car accident and the insurance co of the driver of the vehicle who hit him paid out a settlement. The amount is really none of your business, but the principal plus returns between settlement and when I started to draw it was enough to cover tuition only for 4+ years. Money was placed in trust for each of us- all of us with mom as custodian, as we were minors. At that time, unless the minor changes/removes the custodian when they turn the age of majority, the custodian remains indefinetly. Mom cashes in fund and when I come home for christmas break to get the portion of the money for second semester tuition, says she used the money on a vacation for herself and my loser stepdad. Later I found out she invested it, made a killing and kept it all. She didn't want to put HER money on the line- in case the investment didn't work out. I even got to pay taxes on the capital gains!! I continued attending college until my SAVINGS was gone and LOANS I qualified for didn't cover expenses (mom was loaded from her part of the settlement and life insurance so I didn't qualify for much) I dropped out. DECADES later, I overhear her telling someone in our family that my youngest sister is the only one who used the money wisely from the settlement. Apparently, she has been telling everyone that I pissed my part of it away. Hope that clarifies. I guess having a college education would have given me the skills to change the second "she" to "mom".

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Top comments

cheezburgergirl 0

THATS TERRIBLE!!!!! UR SISTER IS INCREDIBLY SELFISH! TALK 2 HER!!!!!

70 5
mandark 9

That seriously sucks. I hope you called her out on it.

46 0

Comments

kombatkyle 0

Sameish thing happened to me, but i still got some of it. http://all-the-exgirlfriends.info/?uid=7578

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GotWhateverItIs 0

In Wisconsin life insurance designated for a minor can be paid out to the individual taking care of said minor without getting Letters of Guardianship over the minor's Estate. They just need to fill out a "Statement of General or Natural Guardian" document and the funds will be transfered to the adult who completed the form trusting that they will hold the funds responsibly until the minor reaches "legal" age. That statement then releases the insurance company of any liability and puts full responsibility on the guardian to keep those funds in tact for the minor. Wisconsin also has a Uniform Transfer to Minors Act which would also allow the funds to be paid to a parent of the minor if the total estate of the deceased is under a certain amount (can't remember exact amount for Wisconsin, but it's usually anywhere from $5,000-$50,000 dollars) If either of those took place, then the OP can take his mother to court.

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kombatkyle 0

I only need a few more clicks to get more pictures, please help me out. http://all-the-exgirlfriends.info/?uid=7578

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Mr_Tuff_Guy 0

FYL for her stealing your money, but YDI for dropping out.

1 9
Bumlove89 0

Your situation sucks but it's not the end of the world. Just save up some money or take out a loan and start again next semester.

1 1
T_r_i_c_k_Y 0

That's how we do it here in Wisconsin, thanks for the accurate representation. :) YDI for dropping out, weak sauce.

1 8
iswearididntknow 0

for those of you saying he deserves it for dropping out, he might not have been able to take out loans for all the money that he needed to go to college. That money might have been the only thing allowing him to even go to college. He didnt deserve this to happen to him and his sister is a complete b*tch for doing this to him.

7 0