'AITA for emptying out my dad's estate and making his will useless?'
"AITA for emptying out my dad's estate and making his will useless?"
I, 48M, have helped my father keep his business afloat for years. I didn't mind. His support when I was young is the only reason I am where I am in life financially. I was able to graduate debt free and start my own business straight out of university.
My stepmother on the other hand was never my biggest fan. She thought I should have done more for her and her sons. I was already out of the house when my father married her so I never felt like I owed her anything. Much less her useless kids.
Both of my stepbrothers ended up working for my dad's company. But they are useless. They spent most of their time "servicing" clients. Taking clients to lunch and golfing with them. Stuff like that.
My dad needed help a few times and rather than let him go under or go to the bank I gave him loans at a very low interest rate. That way if he couldn't pay me back I could write them off as bad debt and get a tax deduction. I know now that he never mentioned the loans to her or her kids. And when I say "kids," these are men in their thirties.
My dad got sick two years ago and my stepbrothers actually had to work. The company was pretty solid now and they couldn't screw it up too badly. My dad and his accountant were still in day to day control. He just couldn't go into the office.
Six months ago my father rewrote his will. He left everything to my stepmother and stepbrothers. I was left token sentimental gifts. I don't need the money, but I could smell the bull crap.
So I sold my loans to a business competitor of my father. With the provision that I would personally make the payments until my dad passed away. So basically they get the company when my dad died. I got my money back so I was happy.
When my dad passed, I got my stuff from his estate. Just photo albums and other things of that nature. My stepmother got the house and a retirement fund. And the three of them got the company. They came to me about the loans after they figured out how much my dad owed me. They wanted to keep the same deal.
Basically one percent interest and really lax views on collecting payments. I told them that I had already divested myself of any involvement with my dad's company and that they had to deal with a different creditor who would probably want to collect in full or renegotiate.
They think I'm an ahole for saddling them with debt instead of the solvent cash cow they thought they were getting. It's still a viable company and they can go to a bank themselves and get a loan to pay it off. Then they have a company that has debt payments to make. Lots of good companies like that.
Also, I didn't technically "empty out the estate." My stepmother has enough money to last her until she dies unless she spends it foolishly on herself and her son's. And my stepbrothers both have shared in a good company that has an excellent accountant. If they actually decide to work it will support them and their families forever.
Here's what people had to say to OP:
CollywobblesMumma said:
NTA. You did the deal for your dad because he was your dad and raised you well. You owe them nothing.
Zealousideal_Till683 said:
So let me get this straight. Your stepmother took everything from your father's estate, leaving you with nothing. And she's complaining that she's getting the raw deal? You must know you're NTA.
lordplagus02 said:
Lol I love the pettiness of selling the debt to a competitor. Power move. NTA.
KLG999 said:
NTA. Business is business.
Adelucas said:
NTA. You did what you had to to make yourself solvent and protect your financial interests. They thought they were being clever convincing your dad to cut you out of the will, but in the end you'll have the last laugh as they have no idea how to run the company and will treat it like their own private piggy bank until it folds. The money your SM got won't last that long as she'll probably have to bail them out at the end.
Special-Audience-426 said:
NTA I was expecting you to be but you're 100% not.
HootblackDesiato said:
NTA. What you did was smart. You got your loans repaid, and cut the business cord with your stepfamily. They will not suffer as a result of your actions if they step up.