In 2005 my then underaged son won a slip n fall lawsuit. I was commissioned as his legal guardian to put the award away for two years. I invested the principle of $4000 in my younger brother's realty business with the agreement that at the end of the two years the principle as well as interests would be returned to my son. Closing in on the two years my brother decides to cut all contact with us, no visits like usual, no phone calls, no return or accepted phone calls. When my son would reach his uncle, he'd complain that he was cursed out. Since then my brother and his family has spent several thousands of dollars, there has been no apology, no payment arrangements, nothing! I didn't sue my brother because we were not raised that way and still I tried reaching him to make some kind of sense of this mess and maybe get him to promise a pay. Is it too late to sue and does my son have to be the one to bring the suit.
1 Answer from Attorneys
These types of cases are tough to predict and very fact-dependnet. But, the bad news is that you may need to sue your brother very soon, because your Son may have a viable suit against you. You did nto indicate if this "loan" was memorialized by a note or any type of loan/investment documents. You and your Son need to consult directly with a civil practice attorney in your area. Take all the documents that revolve around this "loan/investment." You may approach the same lawyer initially. But, you may have to convert to two seperate lawyers down the road.