Legal Question in Wills and Trusts in California
Trustee is hiding assets,is this a punishable crime?
I am involved in a trust where the trustee is hiding assets and trying to take what is mine.Can this person be prosecuted and held personaly responsible for their actions? I have been told it will cost five thousand dollars for an accounting when I have everything written down. I am #2 on the trustee list is this enough to warrent replacement of the current trustee? Thank you for your time
2 Answers from Attorneys
Re: Trustee is hiding assets,is this a punishable crime?
A trustee hiding assets and/or using trust assets for his own benefit is breaching his obligations.
Yes, it is typically enough to have him removed as trustee.
There is also the potential for criminal action against him.
You should hire an attorney to represent you, get an order for an accounting and move the court to have the trustee removed for misconduct.
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Re: Trustee is hiding assets,is this a punishable crime?
Yes, you can demand the trustee account and get him or her surcharged for any money stolen. While you will incur attorneys' fees doing this work (unless you do it yourself), you should get them paid by the trust if you are successful.
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