My mother passed away over a year ago. My dad has been gone for over 10 years. When dad was alive I asked him how the money from the sale of the house (after their death) was to be distributed. He said it was to be divided by 3 and that John knew. He also said that everything else (Stocks and Investments) was to be divided equally. They had a living trust and one of my brothers was the executor. John (brother) insisted on taking Mom after dad passed. The house was sold for one million dollars. That money was put into a bank account in both my mother and John's names. I asked Mom what was to happen to the money after she passed. She replied that John would be fair and we would each receive our fair share.John purchased several properties in his and my mothers name. I don't believe my mother was competent and understood what he was doing. I asked her about that and she again said that John would be fair.John sold the stock for almost nothing when the market was really low. I had told mom not to let him sell as I had been advised by a broker that it would come back. The market came back and he lost over 2/3rds. He then took that money and invested in a small bank in Colorado. It is an independent and when I received my statement I really couldn't understand it. The $100,000 became $30,000 and my share about $10,000. My father told us we would each receive around $300,000 if not more. That is what should have happened. Is there anything I can do? My mother was alive when he literally stole from us (brother and myself).
State/Country relating to question: California
I have done nothing. I have been in shock that someone I grew up with could be such a thief. Can you help me?
You can sue for a breach of fiduciary duty. In all of the capacities you mention your brother was likely acting as a "fiduciary" which has the highest legal duty under the law. It sounds pretty clear that he did not act in the manner in which a fiduciary has to act, being safe and cautious at all times.A fiduciary is not allowed to make risky investments, even to increase returns. They are always required to make safe investments and conservative decisions.If you would like any additional information or have more questions please don’t hesitate to ask but please do so my clicking on the Reply to Expert tab.We work for Positive Ratings, please click on one of the top three ratings or one of the Smile Faces, as this would be appreciated. We have recently implemented a new rating and feedback system. Please be aware that you are rating my courtesy and service as a professional, and not necessarily whether you like the information that you are receiving. Please bear in mind I can’t control what the law is and whether it helps you, I can only tell you what it says, and I assume you want truthful information.PLEASE DO NOT use the rating system to ask for more information or in an attempt to tell the website that you didn’t like the substance of the answer as it gives a NEGATIVE rating to me personally if your rating is one of the lower two.I believe in giving information that is to the point, but please remember that I can only base our answers on the information you provide and sometimes a misunderstanding as to what you are looking for or already know occurs so feel free to ask additional questions or for clarifications. Be very careful about looking at other internet sites that just post generic information without any inquiry into your facts because often those answers are dated, wrong, or wrong as applied to your facts. Please be aware that my answer is not legal advice, it is merely information. You should always contact a local attorney for legal advice.Several customers have asked how they direct a question to me in particular. If you specifically want me to provide information for you just put “FOR JD 1992” in the subject line and I will pick up the next time I am online.
Estate Law Expert
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