Legal Question in Wills and Trusts in Nevada

penalties for violating blocked account agreement

I was ordered to create a blocked account for my Aunt who was to recieve a sum of money. No one was able to locate her so the money was to sit in the blocked account. I am the executer of the will and I failed to open the account and spent a considerable amount from it(her share was about $20,000). I'm young, foolish and unexperianced with money and am in sheer terror on what the consequences will be. Any insight would be greatly appreciated.


Asked on 10/22/04, 9:54 am

1 Answer from Attorneys
James Smith James E. Smith Ltd.

Re: penalties for violating blocked account agreement

If you cannot replace the money you need to resign as Executor.

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Answered on 10/22/04, 10:13 am


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