Legal Question in Wills and Trusts in Pennsylvania
Trustee
My brother was designated ''trustee'' of an irrovocable trust fund for me in 1991 when my father passed away. My mom died two years ago. My brother has provided me with an accounting of my trust fund, but has not paid me the money which should have been available to me upon my mom's death. He has the money invested, on a hand shake, with a friend of his. He cannot provide me with any details on the investments other than it is invested in land deals and is not readily available. What are my options? Is this considered a prudent investment? Is there a time limit on how long he has to pay this back to me? He also owes alot on money to my mom's estate, which I am executor of, that he has invested with the same friend. My mom assumed her money had been invested in mutual funds/stocks by my brother. She would be shocked if she knew he had done this. Your advice?
1 Answer from Attorneys
Re: Trustee
It would be hard to give you any advice without reviewing a copy of the trust. The trustee typically has alot of authority but there may be some terminology in the trust that protects you as the beneficiary. You can call my office for a free initial consultation and we can discuss the matter in greater detail. I would advise seeking counsel quickly before the assets are stripped.
Brandon Barnett, Esq.
www.youresquire.net
412-916-1677
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