Legal Question in Civil Litigation in California
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)
3 Answers from Attorneys
Re: Dad invested money from Trust account
You need to retain counsel. If you were not a party to the transaction, the parties need to be represented, it that be you father, he needs counsel.
Re: Dad invested money from Trust account
I agree with the other commentators. There is a lot of information here, and you will have to review it with a lawyer. Find one in your area and discuss it with him or her.
Re: Dad invested money from Trust account
Your query requires a number of answers to a number of questions before anything other than a superficial response can be given. Has your father been declared incompetent to handle his financial affairs, and have you been appointed his conservator? If so, then you could litigate against this partner and on behalf of your father, as the conservator of the estate. If not, why did your father's lawyers make you trustee of the trust? Did you and/or your sister have an ownership interest in the monies, or were you a beneficiary of the trust from whence the monies came? If so, then you may have standing to litigate on your own behalves also. Please note that you and your sister do not have standing to litigate against this partner simply because you believe he took advantage of your father; again, if your father is a conservatee, then the answer may be different. Lastly, if you are questioning whether you and your sister can represent yourselves in "fighting" this investor/partner without an attorney, although you are entitled to do so legally, I would not recommend undertaking it; this is complex and if the partner has a sharp attorney, you face enormous obstacles. I would suggest that you gather up every scrap of paper having to do with the matter and take it all to an attorney for a more in depth review of your options.
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