Legal Question in Wills and Trusts in California

spending a child's inheritance

A 1-year old received a $7800 gift from her Dad's brother at his death. Per the will, money was to be handled by Dad and used for ''higher education''. Dad and Mom divorced 1 year later. Money was taken out of bank by Mom, without Dad's knowledge, and given to boyfriend to invest in his construction company. Dad found out and asked for the money. Mom assured Dad it was getting 12% interest. Now it is 16 years later and child needs $60,000 for college. We're being told by Mom that she invested poorly and there is only $10,000 left. Do we have any recourse?


Asked on 10/18/01, 1:31 pm

1 Answer from Attorneys
Scott Shabel Law Offices of Scott Lee Shabel

Re: spending a child's inheritance

Yes, absolutely. Dad had a fiduciary duty to carry out the provisions of his brother's will, and is liable for failing to do so. If Mom took the money without legal authority, she is liable to return it, with interest at the legal rate. We would be happy to consult with you further regarding this matter, without charge. Feel free to visit our website - www.labusinesslawyer.com

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Answered on 11/24/01, 9:02 pm


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