Legal Question in Family Law in Indiana
Long story short, my mother and father had set up a college fund when I was a baby. It's not a 529 fund but it was designated via their divorce decree that the account was only to be used for college for both my brother and I and I believe it states that it's for education past high school but not including graduate school. I recently graduated from college only to find out that my mother had spent most of the college fund - apparently that's how she purchased our cars among random purchases and a few loans given to her family. As a mother of two young children I was really counting on having my student loans paid for via this fund. People have suggested that I take legal action against my mother, is that possible? What type of attorney would I need?
1 Answer from Attorneys
Certainly your father would have standing to enforce this. I suspect that you do, too. She was holding those funds as a fiduciary and violated that duty. She may argue that the vehicles were somehow related to your college and that may depending on the circumstances be a valid argument. The loans are a different story. If loans, why haven't they been paid back? Also, why weren't you receiving these funds while you were in college? Some additional facts need to be presented.
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