Legal Question in Wills and Trusts in Missouri

Conservator's rights to the funds of the minor protectee, AFTER Final Settlement

I was the sole beneficiary of my mother's life insurance proceeds. My parents were long divorced, she never remarried. The insurance proceeds went to probate and my father was named guardian and conservator. As instructed by his attorney, he established a money market account with his name as guardian, and my name as a minor. Annual settlements were filed as expected until the final settlement/distribution. However, the entire amount of money was spent by my father - AFTER final settlement/ distribution - without my knowledge. My father led me to believe I wouldn't have access to the money until I was 21, and believing him, I signed a notication of distribution paper per his instructions not understanding exactly what it was that I was signing. The entire amount of money was spent by him, after I was 18 and no longer living in his house. Some questions: 1) Is there any legal liability on the part of my father or the bank? 2) Is there a statute of limitations on such liability? (final distribution was approved by the court in October 1987); and 3) What legal recourse do I have? Thank you in advance for your help and advice.


Asked on 10/22/04, 2:16 pm

1 Answer from Attorneys
Anthony Smith LawSmith

Re: Conservator's rights to the funds of the minor protectee, AFTER Final Settle

It is unlikely that you have any legal recourse after 17 years. But, there are a few rare actions that are too involved to describe in this limited forum. Hire an attorney to examine all o fthe old court documents and what documents you can get from the bank. They may be able to assist, although it is a remote chance.

Good Luck,

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Answered on 10/25/04, 1:51 pm


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