Legal Question in Wills and Trusts in California
Where is the rest of my inheritance?
My father died 4/2003 leaaving a irrevocable trust to be divided between my brother and myself. My brother is first successor trustee and I am second. I obtained a $130,000 loan to buyout my brother's 1/2 interest in my father's home approx. (75,000), plus pay off (auto loan, county, and misc. debts). At the close of escrow my brother received $120,000 and none of my debts were paid. The attorneys set up this loan at 12.75% w/a balloon payment due this December for $131,000. I am disabled and on a fixed income. I now stand to lose my family home. In addition, I was to receive approx. $200,000 from my father's AXP accounts, but only received a personal check for $15,000 which has been taken by Bankruptcy courts. I have repeatedly asked for an accounting and still have not received one.I believe my brother has misappropriatged trust assets and should be responsible and made to pay for this misapropriation. Please advise. Can you help me locate an honest lawyer and can what forms do I use to file with the courts a demand for an accounting? Thank you.
1 Answer from Attorneys
Re: Where is the rest of my inheritance?
In order to correctly and completely answer your questions the trust agreement must be reviewed, as well as any written communications or other documents related to the trust. In addition, as it appears that bankruptcy law is also involved, you need to consult a bankruptcy attorney.
The trustee is required to provide you with notices and information.
SEE http://www.leginfo.ca.gov/cgi-bin/displaycode?section=prob&group=16001-17000&file=16060-16064
You can file an action for accounting against the trustee (and perhaps for other improper actions by the trustee).
SEE http://www.leginfo.ca.gov/cgi-bin/displaycode?section=prob&group=17001-18000&file=17200-17211
SEE http://www.leginfo.ca.gov/cgi-bin/displaycode?section=prob&group=15001-16000&file=15640-15645
SEE http://www.leginfo.ca.gov/cgi-bin/displaycode?section=prob&group=16001-17000&file=16420-16421
There is no standard form to use. The petition would normally be prepared by an attorney.
If the trustee is located in the San Francisco Bay Area, you could retain me to assist you with this dispute. Otherwise, you can contact the county bar association in the county where the trustee resides and receive a referral through the county bar association referral service.
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