Legal Question in Wills and Trusts in California

Re: Parents Entitled to Child's Money

If the money was in fact left to you, then your parents probably took possession of it as trustees for your benefit.

If they used the money to pay for their house, the law might impose a constructive trust on the house and you could be deemed to have an ownership interest in the house.

Aside from the way the law applies to your case, you must first consider how this situation will affect your relationship with your family. If you end up taking an adversarial position against your parents, it will be uncomfortable to say the least.

Your best bet is to try and get them to understand that what they did was wrong. Then try to get them to take out an equity loan to repay you. If that's not possible, perhaps you can get them to pay you a fixed amount per month until the money is paid back (plus interest?).

The applicability of this advice is quite limited as I'm basing it on a very limited understanding of the facts. This information is intended to give you a small dose of guidance. This is NOT specifically tailored legal advice. You'll need to communicate much more with an attorney to get advice you can specifically rely upon.

Good luck,

Ben

Re: Parents Entitled to Child's Money

She left the money to you but you were a minor. Therefore the money was left in "trust" with your parents on your behalf. Yes you are absolutely correct the invalidly, he legally and wrongfully use your money. Basically they didn't you own part of the house. Not only the original principal amount of any inflationary increase in value to today. If they used you are money used as a down payment along with some of their own and there's a proportionate share formula. In essence, there are funds available for your college education. There just tied up in the house which means you would have to refinance the house or any alternative take out a second mortgage. This is an interesting situation because these are your parents. Think about it, when it comes time for Thanksgiving dinner are you can be able to sit down with them and the family. So you're right but that's not the end. What do you want to do about it. This is not an easy situation. It is not an easy answer. If these were strangers it would be very simple, protects your you know what. Litigation, no problem in that situation. But, but, but these are your parents and he did something not in your best interest, but in the best interest of the family and of themselves. You do have rights and I think you need to speak with an attorney who understands real estate law/estate planning/Probate. Sit down and think out the potential alternatives can get this saddled with your parents nicely, if at all possible. I'm sure they don't feel any better about this then you do. Or at least I hope so.I have been practicing law in this legal area for over 30 years and understand your problem well. I practice in the S.F. Bay Area and if you wish to contact me call at 925-945-6000.

Re: Parents Entitled to Child's Money

Since you were a minor, the funds should have been placed into a trust account for your later use. Your parents are constructive trustees, and have liability to you for the principle amount and interest or, if they did invest your money in the house, you may have an equitable interest in the appreciation. If they used the funds of the other children, they may be liable to them, too.

If there was a will, it should have been recorded with Superior court in the county in which your grandmother resided.

If your parents are not willing to cooperate, you may need professional help.