My kids want to take my car from me and I'm upset

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Liza1948

Liza1948

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Hi, I am a new member on this forum and am looking for some advice.

When I was 16 my father bought me a present. It was and is a 1964 1/2 Ford Mustang hard top, cherry red. It has the original numbers matching 289 cu in V8 with double carboraters. It has been garaged kept, I have service records dating back from I took ownership from my father when I turned 18. So, it has been a fixture in my life since I was a teenager, which I would think is a bit strange for a quiet, retired librarian in Iowa.

My kids want to take it away from me. They say I am too old to be driving this car, and that given current safety standards it is a practical death trap. But I don't believe them. Both my daughters and my son, especially him, are struggling to put their own kids through college. They have sought a court order to stop me from driving and are pressuring me to sell the car, including provided quotes from private buyers for as much as $75k. They note that the insurance on a classic car like this and for a driver for a person my age is unreasonably high.

They are right in some respects. Correct, a 1960s Mustang doesn't have the same safety or convenience features as my Civic but the car is part of my personallity and I don't want to be taken advantage of. I'd rather see the car rot in my garage than sell it for my unemployed son to blow on his barely literate children (I think he actually plans to use the proceeds to help pay off his debts.)

Any advice you have would be helpful.
Liza1948
 

The Classic Mustang is much more than a death trap. It's a fire trap:
"On Mustangs built from 1964 through 1970, the gas tank was simply dropped into a hole in the trunk. If the tank is ruptured in a rear-end collision, there is no solid barrier--just a flimsy seat back--between the passengers and the gasoline. "It's not a safe way to put fuel into an automobile."
I suggest you get rid of it. Recovering from burns can be worse than not recovering.
https://www.cbsnews.com/news/mustan...uilt from 1964,an automobile," Bertelson says.
 
I have a lawyer, but he is an estate lawyer and has power to make financial decisions on my part. The line I am getting from my son is more accurately phrased "You don't drive it much, you can't work on it more, we're going to get it in the will anyway, so why not sell it now while prices are high and we can use the money for your grandkids?" Only one of my kids actually graduated college and it wasn't my son (other daughter got pregnant at 19 and dropped out, got divorced before thirty and I've never seen the father since the ink on the papers was still wet). So, I'm thinking out of spite I'm going to write them all out of my will and have the proceeds placed in a trust to benefit the surviving grandchildren on a pro rata basis when they each turn 18. The problem with that of course is one of my son's kids is in jail on methamphetimines distribution and I can't see him kicking it, and one of my daughter's daughters (the one who actually finished college) is mentally challenged so my daughter will always have power of attorney regardless of who the end beneficiary is.

Oh, what a mess. Sorry for burdening you all on this.

To the poster that said the mustang is a fire trap: I replaced the fuel tank years ago to reduce the risk of combustion in the case of an accident and added a flame wall on the floor and behind the rear seats.
 
Much less forthright than I would be. I have a 66 fastback Mustang, with a supercharged 302, and a five speed, and still drive it like I stole it. My son would never even think about taking any of my cars. If he did, who would help him with his hot rod. Time to be tough, and fight back. Get a restraining order if needs be, and cut them out of your will. This kind of thing really gets my goat. Mike

Aunt Bea said:
I would thank them for their concern and put a good lock on the garage door.
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From your post #1 you have a civic with safety features & a collectable car that has sentimental value. Sounds like resentment that selling & giving the proceeds family not deserving is your main point.

Your post #12 has the solution. All you have to do now is decide if holding onto the mustang is worth it since you drive your civic. Or go forward with the solution.
 
My recollection is that it was the Ford Pinto, not the Mustang that had fire problems because of the gas tank design. I remember seeing them with bumper stickers that said "flammable" stuck on them.
 
Pepper said:
@Liza1948
"I have a lawyer, but he is an estate lawyer and has power to make financial decisions on my part."

Without a consult with you first?
An estate lawyer is not sufficient if your children challenge your mental capacity. Are they gearing up for that?
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You do mean if you’re not mentally capable, right?

If your kids have any sway with this lawyer, you might not get to keep your car. I think you should keep it.
 
Liza1948 said:
I have a lawyer, but he is an estate lawyer and has power to make financial decisions on my part. The line I am getting from my son is more accurately phrased "You don't drive it much, you can't work on it more, we're going to get it in the will anyway, so why not sell it now while prices are high and we can use the money for your grandkids?" Only one of my kids actually graduated college and it wasn't my son (other daughter got pregnant at 19 and dropped out, got divorced before thirty and I've never seen the father since the ink on the papers was still wet). So, I'm thinking out of spite I'm going to write them all out of my will and have the proceeds placed in a trust to benefit the surviving grandchildren on a pro rata basis when they each turn 18. The problem with that of course is one of my son's kids is in jail on methamphetimines distribution and I can't see him kicking it, and one of my daughter's daughters (the one who actually finished college) is mentally challenged so my daughter will always have power of attorney regardless of who the end beneficiary is.

Oh, what a mess. Sorry for burdening you all on this.

To the poster that said the mustang is a fire trap: I replaced the fuel tank years ago to reduce the risk of combustion in the case of an accident and added a flame wall on the floor and behind the rear seats.
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I'd still sell it & use the money for yourself, especially because of the type of family members you have. I'd also get them out of your will.
 
Pepper said:
You should consult an attorney who specializes in elder law. How horrible for you that this is happening. If they succeed in obtaining a court order You Must Have an Attorney.
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Yes to this. You have to respond to a court order, so contact an elder attorney.

You should also contact your county's Elder Abuse agency. In fact, they'll assign you an attorney.
Go online, search "[your county name] elder abuse" and that should get you to their website.
 
Liza1948 said:
They have sought a court order to stop me from driving
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To stop driving at all? Why? Is it to protect your health or just to protect the Mustang?

If you aren't going to drive the Mustang it might make sense to sell it now to someone. I have a rotting riding mower in my barn that if I'd known I was never going to have driven it again I hope I would have sold it, I'm sure by now the engine is full of mice nests and the tires are rotten and who knows what else. I was saved from the same mistake with the tractor by my neighbor who researched its value and found a buyer (apparently the neighbor couldn't bear to see it just sitting neglected). It had already sat for a couple years at that point but they got it running. Wasn't valuable like your Mustang, but I really appreciated having $8k for something that would have rusted away, I didn't even have it in a barn.

While I think your kids might be giving good advice about selling the Mustang (tho they obviously don't understand the sentimental value), I completely disagree with them getting the money, and it seems shockingly rude for them to suggest you give it to them.

I had a cousin who was all anxious about her mother's money and wanting to be the sole heir (i.e., nothing to her brother), but then my cousin died in her early 60s and her mother outlived her by 10 years, and probably needed all her money for herself because she was in a nursing home for many years.

Also, I think if you gave them $75k you might need to pay gift taxes? And maybe there would be no taxes needed if the money only goes to them after your death?

I cannot imagine how my mother would have reacted if we'd been acting like your kids, she probably would have removed us as beneficiaries! But we would never have dared. Though, my brother did propose and receive his share of inheritance early, as a loan to buy a business. But the paperwork was done by a lawyer as a real loan, and my brother had to pay interest for the rest of their lives and then the principal was his after they had both died.
 

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