Legal Question in Wills and Trusts in California

Appropriation of Childrens' Trusts

My Ex-husband asked our adult sons to sign over their trusts (from his grandfather)so he could manage them for a higher return. They were frozen in specific securities that were in declining industries. Trusting him, they did so. Several years later(recently) he married for the 4th time and has appropriated their funds for his own purposes. They are now probably co-mingled with his new wife; Do the boys have any legal recouse as the fiduciary trust has been abrogated. Can they at least get him to write a Will returning them what's left of their money so she doesn't get it all if he dies first?-he's 67; she's in her 50's.


Asked on 8/04/04, 3:50 pm

2 Answers from Attorneys
Scott Schomer Schomer Law Group

Re: Appropriation of Childrens' Trusts

The ex husband may be liable for commingling and also for failing to exercise proper care in the management of the assets. If a court agrees, he could be ordered to surrender all remaining assets and also surcharged. Your sons should see an attorney as soon as possible.

Read more
Answered on 8/04/04, 4:10 pm
Chris Johnson Christopher B. Johnson, Attorney at Law

Re: Appropriation of Childrens' Trusts

I wouldn't wait for the will--that may never happen. I realize it's difficult dealing with family and using attorneys to do so, but your sons should review the facts with a probate litigation attorney as soon as possible--they at least would know what their rights/deadlines are and could then make a decision.

Read more
Answered on 8/04/04, 6:26 pm


Related Questions & Answers

More Probate, Trusts, Wills & Estates questions and answers in California