heatherlyerinn
Active Member
What is the name of your state? CA
When I was 14 (I am 50, now) my mom got remarried. My new stepfather’s family welcomed my kid brother and i by giving us what they gave all of the grandchildren in their family a trust fund so that when they came of age they would have a nest egg in which they could either go to college or start their own business. Both of his parents held degrees (one in business, the other teaching) from USC, and they were successful business owners in the greater Los Angeles area.,
I never knew about this. Fast forward to my senior year finished up, I was awarded a scholarship for $500, from a continuation school. This was only enough to cover enrollment fees to a junior/community college in which I enrolled, but was unable to attend due to not having any resources to cover books, let alone living arrangements, I did enroll, but never showed. Instead, I ended up moving back into my mothers house (with my boyfriend at the time) and started waiting tables. This didn’t last long, as it is a small house and my mom didn’t seem to like me much, so she booted me out. Just me, but the boyfriend left with me.
A year later I was pregnant .
Another year and I was moving up to the Seattle area in Washington state, with a baby.
Suddenly my mom tells me I need a car. I learned about this trust fund that I was set with…I was given an option to get a car. She said her and my step father had to go make the initial withraeal. Thereafter I would have control of my own trust account.
She needed money so I split a $7500 amount with her…in which she claimed she was going to repay in time. I always knew it wouldn’t happen, but whatever, that’s the hand we were dealt.
About a year later, I am pregnant, again, with a 1 1/2 year old and I decide I am taking my son to go visit my dad, in phoenix, and the boys grandparents in California desert, and my mom/stepdad in L.A.
when I returned. I found my rent was behind and my bills were late. I called my mom and asked her to go ahead and forge my name at the bank where the money was, ASAP…and she could have $500 for doing so, pronto.
It took her a week to do it and wire me the money for rent.
I never saw another dime…I do not even know what the total was that was in the account, but she told me that was it…I had tapped my savings account.
Years later, both my boys were living with their father and I was unable to provide for them or me, we had moved back to the Mohave desert, split up and led separate, hard lives.
The last amount she withdrew $25, so the account was drained.
As it turns out, I am not a named beneficiary of the trust, although my name appeared in the title with /FBO minor child, along with trustees my mom and my stepdad.
The pennies she left me have been earning since and has been up to roughly $350 but both of my trustees are dead.
I can’t touch it because there is no named beneficiary.
How can I use this account? It is Incone fund of America. I can’t get the advisor to answer or return calls, they are located in New York.
When I was 14 (I am 50, now) my mom got remarried. My new stepfather’s family welcomed my kid brother and i by giving us what they gave all of the grandchildren in their family a trust fund so that when they came of age they would have a nest egg in which they could either go to college or start their own business. Both of his parents held degrees (one in business, the other teaching) from USC, and they were successful business owners in the greater Los Angeles area.,
I never knew about this. Fast forward to my senior year finished up, I was awarded a scholarship for $500, from a continuation school. This was only enough to cover enrollment fees to a junior/community college in which I enrolled, but was unable to attend due to not having any resources to cover books, let alone living arrangements, I did enroll, but never showed. Instead, I ended up moving back into my mothers house (with my boyfriend at the time) and started waiting tables. This didn’t last long, as it is a small house and my mom didn’t seem to like me much, so she booted me out. Just me, but the boyfriend left with me.
A year later I was pregnant .
Another year and I was moving up to the Seattle area in Washington state, with a baby.
Suddenly my mom tells me I need a car. I learned about this trust fund that I was set with…I was given an option to get a car. She said her and my step father had to go make the initial withraeal. Thereafter I would have control of my own trust account.
She needed money so I split a $7500 amount with her…in which she claimed she was going to repay in time. I always knew it wouldn’t happen, but whatever, that’s the hand we were dealt.
About a year later, I am pregnant, again, with a 1 1/2 year old and I decide I am taking my son to go visit my dad, in phoenix, and the boys grandparents in California desert, and my mom/stepdad in L.A.
when I returned. I found my rent was behind and my bills were late. I called my mom and asked her to go ahead and forge my name at the bank where the money was, ASAP…and she could have $500 for doing so, pronto.
It took her a week to do it and wire me the money for rent.
I never saw another dime…I do not even know what the total was that was in the account, but she told me that was it…I had tapped my savings account.
Years later, both my boys were living with their father and I was unable to provide for them or me, we had moved back to the Mohave desert, split up and led separate, hard lives.
The last amount she withdrew $25, so the account was drained.
As it turns out, I am not a named beneficiary of the trust, although my name appeared in the title with /FBO minor child, along with trustees my mom and my stepdad.
The pennies she left me have been earning since and has been up to roughly $350 but both of my trustees are dead.
I can’t touch it because there is no named beneficiary.
How can I use this account? It is Incone fund of America. I can’t get the advisor to answer or return calls, they are located in New York.
