What do do if funds from a trust account are being misappropriated?
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What do do if funds from a trust account are being misappropriated?
My daughter had a trust fund set up for her due to a car accident that she was in. Her father only put his name on it. My daughter lives with me and I cannot access any of the funds for the things that she needs. How do I get that changed? He has purchased things out of it and she did not receive any of it. I have called the trust company and also told them that I have custody. I faxed them paperwork but they will not return my phone calls. What do I do?
Asked on September 21, 2011 under Estate Planning, New York
Answers:
M.T.G., Member, New York Bar / FreeAdvice Contributing Attorney
Answered 12 years ago | Contributor
You need to hire an attorney to have him removed as the trustee, to request that he account for the funds withdrawn and a possible suit against him for his breach of fiduciary duty. Now, you have not given much information as to the terms of the trust and the situation regarding your daughter. Was she incapacitated as a result of the car accident? Are the funds to be used for her daily care or are they a settlement of a lawsuit that were placed in a trust for her benefit until she is 21? All this matters as to invading the trust. But someone needs to read all the paperwork here to help you. Good luck.
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