I'm 17 years old and will be 18 next summer. My mom passed when I was 7, and she left a trust fund, but my dad says there is no money. Both my parents and grandma signed it as proof that it was supposed to be placed. My twin sister and I are supposed to get over $50,000 each when we turn 18, and again when we were 21 or 24. Help?
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.
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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.
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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.
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