California | Civil Litigation
Legal Question
Dad invested money from Trust account
My father is currently being sued by his ''partner'' for half interest in a real estate investment deal because we refused to give any more money to him. My father agreed to provide the financing while his partner would manage the investment. There is no written contract that we know of, this was all done verbally. The partner was not holding up his end in that the money was being used personally and the investment was falling behind schedule. My father insists the partner is still intitled to half the investment despite the fact that someone else had to take over the partners resposibilities in order to save the deal. Because of this, my father's lawyers had him examined by doctors and found him incapable of handling his financial affairs. Consequently I was made the Trustee of the account from which the investment was made. The partner also wants a substantial amount beyond ''his'' half of the money when the deal is finalized. Can my sister and I fight on our own behalf because the partner was incompetant and we feel he was taking advantage of our father? (My father is 65 years old and met this partner at an AA meeting)
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