My father died in 2000--trust established ($650k to decedent's B trust, remainder to mother's A trust--$3,000,000). Now, NOTHING is left in A trust. We quit claimed mother's house in 2008 to four children (brother & I are co-successor trustees)--for Medicaid Planning. Mother diagnosed with Alzheimer's four years ago but it started in 2005. My brother used unfair influence and pressure to raid A trust. Now he's suing me for breach of fiduciary duty because I distributed rental income (allowed by trust for financial desperation of heirs). Mother has ample income for care--I got her VA Pension but didn't touch the funds until being named fiduciary. BUT my BROTHER WAS! Now he alleges I stole the VA money (11k) and didn't return it. Banker signed statements proving otherwise. Please help!
Your question is beyond the scope of this forum. All anyone can do, here, is to give you information and general guidance. YOU need someone who can review all the facts of your highly complex situation, determine where you stand, and come up with a plan of action. If you are being sued for breach of fiduciary duties, as trustee, then the trust would pay for your legal defense. You should not deal with this matter without a lawyer. You cannot afford to NOT have a lawyer. It sounds like there is plenty of money to go around, here. Depending on what happened, you may have no liability at all, or you may have significant liability. Get the legal help you need!
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Estate Planning Attorney
Mr. Frederick is correct. This forum is not going to be able to provide you the guidance and direction you need. You need a trust litigation attorney, and you need one sooner rather than later. The trust seems to be sufficiently funded, that's a good thing as it will pay your legal fees as a trustee.
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