California | Wills and Trusts
2/09/11, 6:39 pm
Legal Question
The executor admits stealing funds from sibling's trusts. How to handle this?
thx
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The executor admits stealing funds from sibling's trusts. How to handle this?
thx
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Read More Answered By: Chris Johnson |
Does the executor still have access to the funds? If so, try to have them resign voluntarily to stop more losses, and try to work out a settlement agreement (in writing) for repayment. If they refuse to do so, you'll have to file a petition to have the court remove them and order the losses repaid. |
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Read More Answered By: Jonathan Reich |
If you are not a beneficiary of the trust in question, you do not have standing to do anything. If, however, you are a beneficiary, even a residual or contingent one, you can, and should demand (a) that the executor/trustee return the funds in question, and (b) resign. If the executor/trustee won't do so then you can, and probably should, file a Petition in the Probate Court to compel the executor/trustee to do so. If you would like assistance in this matter, please feel free to call me.
Jon Reich
IMPORTANT NOTICE: The above response is not intended to, and does not, create an attorney-client, fiduciary or other confidential relationship with the responder. Neither does it constitute the providing of legal advice or services or the giving of a legal opinion by the responder. Such a relationship can only be created, and legal advice and/or legal services provided, pursuant to a written agreement with the responder. Accordingly, no obligations of any kind are assumed with respect to any matter or question presented. It should also be noted that legal issues are often time sensitive and legal rights may be lost or compromised if you do not act in a timely fashion. |
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