Legal Question in Wills and Trusts in Nevada
Are We Entitled?
Mom and stepfather had a trust stating once one passes the trust cannot be changed. Mom dies, stepdad sells house, closes all accounts listed in trust, and sells her vehicle. Stepfather tells step kids (who are beneficiaries) that he is using the money from the sale of the home to live on. Stepdad has plenty of money that was in accounts not even listed in the trust. Can he do this? It was moms intent for the kids to receive her half of everything they built together and that was community property. Isnt Nevada a community property state and he should of split the sale of the home? The Grant, Bargain, Sale deed states the title was held as husband and wife as joint tenants yet, it was in the trust. Then one part of the trust states that upon the death of both then the house and everything was to be divided between all the kids to include his. And since he sold the house shouldnt the proceeds be split and paid to the children? Isnt he spending money that is suppose to go to all the kids? And if he is, how much time does one have to before the statue of limitations run out?
1 Answer from Attorneys
Re: Are We Entitled?
if your stepdad breached his fudiciary duties of due care and loyalty as trustee in misappropriating the beneficiaries' trust assets, he could be held personally liable to each of you. if you would like further assistance and/or representation on this matter, email me today with more details and dates of his breach.
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