Inappropriate Handling of Distribution

[newyorkprobate]

What is the name of your state? New York

Family member died,and one of the investments the decedent had was assigned outside the will to a father and son. The son is only 16, the father had an attorney complete paperwork giving the father authority over the sons half of the investment. It is unclear if the son consented. Father was not the guardian of the child and the guardian was told this would be better for everyone, as the mother/guardian is on public benefits and this money could impact her benefits.

Father has subsequently spent all of the funds on himself. Is the son out of luck or is there some recourse that he has. There was about $75,000 initially to be split between the two of them.

Thanks

 

[Dandy Don]

Is it known whether the mother/guardian actually agreed to this or not?

Son needs to get a business law attorney or civil attorney and sue father for the return half of this money as he had no legal right to the son's portion (if he was going to get access to it he should at least have kept the money in trust for the son to receive when he reached adulthood). And it would seem to be untrue as to the son's money having any impact on the mother's benefits--it belongs to the son only and should not have any factor in determining the mother's benefits unless the family's assets as a whole are taken into consideration.

DANDY DON IN OKLAHOMA ([email protected])

 

[lwpat]

You are talking about 32,500. Legal expenses are going to start at 2,000 and may go up to 10,000. Then all you will get is a judgment. If the father has nothing, you get nothing and it is two or three years down the road. While it could be a criminal matter, the police will not get involved in a family situation like this. Then there is the matter of the SOL and we have no timeframe. The son has to decide whether it is worth it or not.