Legal Question in Wills and Trusts in Mississippi
trust accounts
grandmother wills each grandchild 20k, to be distributed on each ones 18th birthday. bonds are purchaced for each child, some bonds earn intrest for 15 years.aunt who is over accounts only distributes the 20k and keeps the intrest,is this legal
Asked on 6/09/07, 8:31 pm
1 Answer from Attorneys
Albert Pettigrew
Law Offices Ph 228-875-8736
Re: trust accounts
No it appears to be a breach of a fiduciary duty. Anyone with the child's best interest may petition the chancery court to create guardianships for the children and to pursue a claim for conversion and breach of fiduciary duty against their aunt.
Answered on 6/12/07, 11:53 am
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