Legal Question in Wills and Trusts in California
Trustee of childrens college fund left in will is spending their money
My husbands father passed away and left my children money for college. The trustee of this money has been spending it on personal items for her and her family. What action, if any, can I take to insure my childrens money will be there for their college education?
5 Answers from Attorneys
Re: Trustee of childrens college fund left in will is spending their money
You can request an accounting for the funds held in trust - if the accounting reveals mismanagement of the funds, or if no accounting is provided, then your next step should be suing the trustee. This will probably be easiest if you find an attorney in the same county, or a nearby county, to the trustee.
Re: Trustee of childrens college fund left in will is spending their money
if you are certain that the trustee is acting improperly, you should immediately file a petition with the probate court in the county in which the trustee is located for removal of the trustee and other actions against the trustee.
Re: Trustee of childrens college fund left in will is spending their money
The children, through their guardian or parent, can demand an accounting of the doings of the Trustee, usually at any time, and particularly if there is evidence of misuse of their funds. The Court will suprevise the trust, but must be asked to do so.
Re: Trustee of childrens college fund left in will is spending their money
File a lawsuit to remove the trustee and impose a surcharge for misuse of assets. This should be filed in the jursidiction where the trust is adminstered, which usually means the residence of the trustee. Don't delay, the longer you wait the more can be stolen.
Re: Trustee of childrens college fund left in will is spending their money
Have trustee removed. Call me directly at (619) 222-3504.