If a friend lost his grandfather and his brother was Trust executor but he liquidated the Trust and lost the money in a casino, what options does he have?

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If a friend lost his grandfather and his brother was Trust executor but he liquidated the Trust and lost the money in a casino, what options does he have?

He lost around 2M.

Asked on March 1, 2015 under Estate Planning, California

Answers:

S.L,. Member, California Bar / FreeAdvice Contributing Attorney

Answered 6 years ago | Contributor

If your friend was a beneficiary of the Trust, he could sue his brother for breach of trust and seek to recover the funds that were lost.  

If the brother owns a home or other property, a lien could be placed on the property which would prevent sale of the property until the lien is removed by restoring the funds to the Trust.

Your friend could also seek a wage garnishment against his brother for the lost funds.  Considering the amount that was lost, it is probably unlikely that much would be recovered by a wage garnishment.

 


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