Legal Question in Wills and Trusts in California
Do I have any recourse...
My father passed away and my brother is trustee. The only item actually assigned to the trust was his home. Everything else, (stocks, accounts, vehicles and a pending patent all valued over $100,000)were not.
Several years ago my brother, got a loan from my dad. I know this since my sister showed me the contract/loan agreement Dad drafted that my brother and his wife signed. My father took a second mortgage on his home to get the money to make the loan. When I asked my brother about it he said he wasn�t going to pay it back , emphasizing that it no physically existed longer existed nor had it been notarized. I didn't make a copy of it.
Is there any formal action that can be taken to hold him accountable? Is it feasable to obtain the paper trail showing withdrawals and deposits for evidence along with my sisters and my testimony? I am also certain if asked to testify under oath my sister in law (signed the loan contract) would say there was a contract.
2 Answers from Attorneys
Re: Do I have any recourse...
You may bring it to the court's attention and it should be deducted from his share. You may want to replace him as trustee. Call me directly at 6192223504.
Re: Do I have any recourse...
First of all, as a trustee, your brother owes a fiduciary duty to the beneficiaries. If you show he has violated that duty, you could possibly have him remooved as trustee.
Regarding the other items, if they were solely in your fathers name with no beneficiary, must go through the probate process. If your brother has not started that process, you can.
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