K
kathyand
Guest
california - 16 years ago a will was read that gave all nieces and nephews $10,000 each to be used for higher education; i.e., college. After taxes, the kids were left with approx $8,900 each. The money was given to the parents for the kids. Since this will specifies the money is to be used for education, is it the responsibility of the parents to invest it a specific way? The problem I have is that after 16 years, only $10,000 is in this account. This account would have had more sitting in a maximizer account. Is there any legal action that can be taken here? It seems obvious to me that the money was spent by the parent, but I have no proof. I'm told it was bad investing. What can I do?