Legal Question in Wills and Trusts in California

mishandling of trust?

My father left an estate to me and my daughter, almost ten years ago. We have been receiving checks monthly, as ordered in ten years the trustee is do distribute the remains, which will be July 2006. I get monthly statements from merrill lynch and every time the value of the estate drops. This month alone it dropped almost ten thousand dollars. She has sold off stock that were profitable and hangs on to ones that are not doing anything. We don't get along to well she is my fathers niece. This estate ten years ago was valued at 960,000 it is now valued at 372,000. This money is to be split one quarter to me and three quarters to my daughter. If at anytime the value falls below 200,000 it is to be distributed at that time. This is all the money I have to continue living on and I believe she is doing it intentionally. I was adopted and she doesnt think I should have anything. There is a nocontest claus also, is there anything i can do before its too late and the rest is gone???thankyou for your time


Asked on 11/23/05, 2:57 am

1 Answer from Attorneys
H.M. Torrey The Law Offices of H.M. Torrey

Re: mishandling of trust?

Absolutely. A trustee has a fiduciary duty to the beneficiaries of 1) due care and 2) loyalty. This simply means that if the current trustee is intentionally or negligently committing "waste" on the assets being distributed to both you and your daughter, then this trustee can be legally liable for the losses as well as removed by court order. If you would like a free consultation regarding your immediate legal options from here, contact us directly ASAP.

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Answered on 11/23/05, 5:45 am


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