• FreeAdvice has a new Terms of Service and Privacy Policy, effective May 25, 2018.
    By continuing to use this site, you are consenting to our Terms of Service and use of cookies.

My responsibilities & liabilities as trustee

Accident - Bankruptcy - Criminal Law / DUI - Business - Consumer - Employment - Family - Immigration - Real Estate - Tax - Traffic - Wills   Please click a topic or scroll down for more.

jac294

Junior Member
What is the name of your state (only U.S. law)? CA.
i am the trustee for my grandmother. She passed away in aug. '08. She had agreed to give $200k to a grandson (my cousin) so that he could invest it on her behalf. It turns out he spent the money. She signed a letter saying she authorized this transaction but I gave him the money. What are my liabilities and responsibilities as a result of this. I sued my cousin civilly and he is now in jail for having done this.
 


curb1

Senior Member
Did you give him the money before grandmother passed away? If so, by what authority did you give him the money? Why didn't grandmother give him the money? Did the money come out of account titled in grandmother's Trust?
 

jac294

Junior Member
Yes. i gave him the money when my grandmother was still alive. This was done w/her consent and she sign a letter stating her approval. A portion was given to him with a check drawn on the trust acct. and a second portion was transferred to his account from the trust account. My grandmother had full knowledge and wanted to do. i carried out the transaction on her behalf.
 
Last edited:

seniorjudge

Senior Member
Yes. i gave him the money when my grandmother was still alive. This was done w/her consent and she sign a letter stating her approval.
Thanks for posting.

Now, please answer these questions:

...
If so, by what authority did you give him the money?

Why didn't grandmother give him the money?

Did the money come out of account titled in grandmother's Trust?

...
 

Find the Right Lawyer for Your Legal Issue!

Fast, Free, and Confidential
data-ad-format="auto">
Top