Mum under fire for burning late husband’s multimillion-dollar inheritance and daughter’s college fund: ‘She should be ashamed’
- A woman squandered her multi-million dollar inheritance from her late husband
- She also liquidated her daughter’s college fund to offset debts
A woman is battered after burning the seven inheritances left to her and their teenage daughter by her late husband.
The 50-year-old American woman revealed that her husband died four years ago after he worked for 20 years as a doctor and created a side investment portfolio.
Her husband warned her against hasty decisions and told her to trust his lawyer with large financial investments – but in secret They bought a Malibu beach house the following year, which quickly turned into a “cash pit” that devoured all their savings.
Now, the woman only has $35,000 (AU$52,000) to her name with “massive” debts, which is why she ended up clearing her daughter’s college fund for ‘a few months’ of relief from mortgage payments.
Her daughter was “furious” when she found out and “unbelievable” her father’s life’s work was gone.
A woman is beaten after burning the seven inheritances left to her by her late husband and their teenage daughter (stock photo)
The woman shared her story on social media, asking if there was an a**hole to clear her daughter’s higher education fund to keep their “dream home”.
“My late husband bequeathed everything to me and told me to trust his lawyer,” she explained on Reddit.
She decided to sell their 12-year home shortly after his death, and received an offer that “was too good to refuse.”
The woman decided to fulfill her dream of a beach house in Malibu with a “flow” Cash from the inheritance and recent sale of the family home.
However, she knew her husband would refute her decision because he was “tight-fisted” and called Malibu’s beach homes “money pits.”
The mother’s imagination begins to unravel soon after.
“I’ve never personally dealt with anything to do with buying a home before, so I didn’t anticipate all the extra costs beyond the sticker price,” she said.
“But my daughter was excited so I decided to go for it.”
“My late husband’s lawyer was furious, so I decided to stop taking his calls.”
The woman made a series of bad financial decisions, such as signing with a substandard money manager who “strained” her savings.
With only $35,000 to her name, the mom decided to liquidate her daughter’s college fund for a few months of relief so her business would rejuvenate.
My daughter was furious and said she couldn’t believe all of her father’s work was done. She also said that she would not support me to retire. I was just trying to fix my mistakes and try to save our house.
Thousands blamed the mother for making bad decisions, losing all their money, and ‘ruining’ her daughter’s life (Stock Image)
Thousands blame her for making bad decisions and “ruining” her daughter’s life.
“You’ve decided not to listen to a lawyer, moved somewhere expensive, and trusted someone’s shady advice.
Now you are excluding your daughter’s chances of going to college without a loan. This money is not yours. You should be ashamed of yourself.’
Your husband was right, Malibu is an empty AirBnBs money hole. One grocery store on the highway with exorbitant prices and almost no food except for tourist traps.
“The sad part is that all of this could have been avoided if she had listened to her husband’s last wishes: trust his lawyers.”
You cleared something that was meant to build your daughter’s future for a few months of breathing space. You haven’t even solved the problem.