Legal Question in Wills and Trusts in California
Hi,My grandmother passed away 15 years ago. In her will it stated that once the youngest grandchild turned 25 the money she had left would be divided among the 4 grandchildren. My aunt had taken over as executor and I have reason to believe she has been using the money. My cousin has told me my aunt has spent money on their schooling, travel, medical, wedding, etc. My youngest cousin will be turning 25 this year and we will be dividing the money. I feel that if money was spent on my cousins and I have not received any of the money. I have not received any account statments but I have heard there was originally 300K in the account and now there is 100K in the account. I need advice on how to proceed? What can I do? Do we meet w/ a lawyer before dividing the money? Help! Roxy from California
2 Answers from Attorneys
First the Will must be examined to see that all portions are legally binding [vests within 100 years and a life in being]. Next is the question of why your aunt became executor [legal replacement?]. Was her Will probated [there would then be an estate representative and not executor hanlding the Will]? As executor, she is obligated to provide summary information of the economic shape of the estate; she can not distribute any thing from the estate without prior notice to the other heirs. You will probably have to have her removed as executor, certainly her power over the money restricted or eliminated [any bond put up?] And then you will have to get the Court to order her surcharged for the money she illegally took . You will have to sure her for the missing money.
Many of these matters you can handle by yourselves. Others you may need an attorney. Good luck.
You should retain a qualified attorney to provide you with advice and and documents needed in communications with your aunt regarding her duties and responsibilities as trustee. If litigation is required, as appears likely, you will need an attorney to pursue the matter effectively.