Legal Question in Wills and Trusts in Florida
Stealing of trust fund by second wife
In June 1997 my father had Alzheimers. In Sept. 1997 a new will was signed for him. After that all his posesseions and trust fund, worth over 1 million were gone, apparently disolved by his current wife of 12 years and distributed to her 2 adult children. The trust fund was in his name only. The wife passed away summer of 2002, and my father passed away Nov. 2005. My husband is co-executor to the trust and we have repeatedly tried to get information of when the trust was dissolved and where it went, her son, the other co-executor will not respond. His house, furniture and vehicles were all sold without our knowlege. It cost close to $100,000 to keep them in nursing homes over the last several years, but there is still a great amount of money unaccounted for. The 2 children that recieved this windfall were wealthy to begin with. Is there anything that can be done to recover my fathers trust fund which was originally left to my sister and I?
2 Answers from Attorneys
Re: Stealing of trust fund by second wife
Without reading the trust agreement no one can give you a correct answer.
Re: Stealing of trust fund by second wife
What is not clear from you question is who was the beneficiary of the trust. There are 3 parties to a trust the settlor, the person whose property is going into the trust. The trustees, the people to whom the property is entrusted. and the beneficiary, the person for whom the trust holds the property.
Your question only names 2 out of 3. Its the beneficiary that can go and have the courts order an accounting.
It should be pointed out that the trustees owe a fiduciary duty to the trust. This is a higher standard of care required in managing the trust.
If you have any further questions feel free to contact me.
{John}
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