Legal Question in Credit and Debt Law in California

Hi... Here's the situation.

I gave my daughter $50,000 of my money to hold for me for my old age. I have proof of several large $$ transactions going into her name referencing me/savings.

She is now refusing to give me my $$ and says that she has it all invested. Is there anything I can do to get my $$ asap. I never asked her to invest anything. Would I have a case? How would I go about this?? Any advice would be greatly appreciated.

Thank you

Asked on 7/29/13, 10:25 pm

2 Answers from Attorneys

Joel Selik

You would have a case. The success would depend on the various proof, including her testimony and your testimony to the Judge or Jury. If you have emails that evidence the debt or her investing it, it would be helpful.

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Answered on 7/30/13, 7:48 am

Carl Starrett Law Offices of Carl H. Starrett II

Having a case and collecting the money are 2 different things. It sounds like you might have enough evidence to convince a judge or jury, but collecting can be difficult if your daughter has spent the money. If this was a verbal agreement, you will not recover your attorney's fees.

Before involving legal counsel, it might be time for a frank discussion with your daughter about where the money went why she cannot or will not turn it over to you. It may be true that the money is invested and why she cannot access it. It might be tied up in a CD or some other asset. However, investments can be liquidated and you are entitled to know where the money is. I presume you didn't want her to just stick it in mattress, so it would make sense that the money would be put in place where it could at least earn interest.

There is also the possibility that she simply blew the money. You might need to speak with a detective in the financial crimes unit of your local police department.

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Answered on 7/30/13, 9:04 am

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