How do you find out if you have trust fund money? can you sue living parent if they spent it.

Asked over 2 years ago - Jacksonville, AR

im 17 years old and i will be 18 next summer. My mom passed when i was 7 and she left a trust fund but my dad says their is no money. they both signed it and my grandma as proof that it was supposed to placed. my twin sister and I are supposed to get over 50,000 a piece when we turn 18 and again when were 21 or 24. help please

Attorney answers (3)

  1. David L. Carrier

    Pro

    Contributor Level 18

    1

    Lawyer agrees

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    Answered . That's awful! And not that uncommon, unfortunately. You need to get a probate attorney on board now, I would not advise waiting. There are severe civil and criminal penalties when a trustee loots a trust, whether the looter is the beneficiary's parent or not.

    This is not legal advice. I am not your lawyer. You are not my client. You cannot rely on my response to your... more
  2. Steven J. Fromm

    Contributor Level 20

    Answered . Retain an estates or trusts attorney to demand an accounting and to bring a surcharge action if the trustee has taken the money illegally from the trust. You cannot do this on your own so you must lawyer up.

    Hope this helps.

    Please remember to designate a best answer to your question.

    Mr. Fromm is licensed to practice law throughout the state of PA with offices in Philadelphia and Montgomery Counties. He is authorized to handle IRS matters throughout the United States. His phone number is 215-735-2336, his email address is sjfpc@comcast.net , for more tax, estate and business articles visit his website www.sjfpc.com.

    LEGAL DISCLAIMER Mr. Fromm is licensed to practice law throughout the state of PA with offices in Philadelphia... more
  3. Tassma Ann Powers

    Pro

    Contributor Level 6

    Answered . The right to recover against your father, as trustee, would depend on whom the beneficiaries were after your mother passed away. If your father was the beneficiary or one of the beneficaries, then your remedies may be limited. Either way, if you are a beneficiary then your are likely entitled to an accounting of the trust assets and expenses. In English, your dad should be able to demonstrate where the money went. You also may be entitled to a copy of the trust. At any rate, you should seek the advice of a local trust and estates attorney if your father is unable to adequate address your questions.

    I am licensed in Wyoming only. The legal analysis of any situation depends on a variety of factors which cannot... more

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