Hi It has been a long time.
Mother sole beneficiary and grantor of Illinois living trust deceased 11/2/2007.Daughters sole trustees.A great deal of money is missing and I believe several breaches of fiduciary
.My mother passed away, was elderly trusted her daughters but was deceived and manipulated .The opposition is now saying since my children and I were not income beneficiaries during my mothers life time we have no standing to sue.Please advise
. The will was drafted in 1955.Three brothers as trustees.Both died so in 1966 this codicil was drafted.For 20 years five brokerage houses required three signatures dissent or agree.Illinois trust law supports this.My fathers intent supports this
My fathers codicil starts off with the word "if" from several people I have talked to if the trustees dont don't don'tmpt a unanimous consent then the majority cant rule.If unanimous consent if reached then three signatures are needed if not the dissenter is compelled to follow the majority and sign.To determine if a unanimous consent can be reached all three must confer.
FIFTH: (m) If for any reason the Trustee of either Trust “A” or Trust “B” shall not be able to agree unanimously with respect to the exercise of any power, authority, duty or discretion delegated to them pursuant to this, my Last will, then the act of the majority of said Trustees shall govern and control and the dissenting Trustee shall execute such document or instrument and take such action as may be required of him by the majority of said Trustees as may be necessary or appropriate to enable the majority of said Trustees to exercise any power, authority, duty or discretion granted to the Trustees of trust “A” or Trust “B” pursuant to this, my Last Will
From 1982-2000 three people signed but only a few withdrawals per year.Those are the only times I opened the statements.From 2000 to 2007 I never signed and other than asking questions on why the account was not being used never opened a statement.I was in China a great deal of the time.The two trustees sent a letter to the broker in 2000 saying two of three could sign.The broker followed this but everyone forgot to tell me.$2.0m came out exactly four times the amount for the same number of years when three signed.
My first and second attorney plead this as fraud.My third attorney said no because of the statements I received.My opinion is the act already occured.If I opened statements at the first month or seven years later it is still fraud.
2000 prior to the market crash I liquidated my stocks.I insisted the trustees do the same.They refused but finalltuy at the bottom of the market sold and lost $700,000
and never got back in again.I find out three months ago between both trustees they owned $1.0m in stocks and sold when I did before the market crashed
I would appreciate you help on these matters