Hello, My name isXXXXX I have lived in Europe the past 35 years and therefore am not savy to all the recent law changes and adjustments here in California.
My question is concerning my sister`s dipping into my Mother`s finances over a few years in which she has managed my Mother`s Trust, set up by my Dad before he passed away in 2007. Initally, my sister was meant to just help mom make sure bills were paid. She soon took over the day to day decisions as to how much money my Mom was allowed to spend, even, to the point where Mom was given an allowance.
At the same time, my Dad`s considerable reserves were put (by him prior to his death)
were put into a living trust
in which he had money in Savings and in 2 rotating CDs. He had planned this as a reserve for my mom when she gets older.
As my Dad had added my sister to the Living Trust, she got the idea somehow that she was allowed to spend these funds, without so much as a note from my mother, allowing her to do so. The name of the Trust was The Richard and Fern Villalba Trust. Both my younger brother and I had thought (my sister always smelled of Roses) that she was managing well for my Mom.
It now turns out that over the time period of 2007-2012 she have pretty much depleted Mom`s entire Reserves. She told us it is because Mom was forgetful and had told her to make changes. Not so!
So, I told you all this to get your legal opinion as to wether these misuses of Mom`s finance constitute a major fraud and misapropiation of Mom`s finances and therefore not
falling under the staute of limitations.
Thank you very much in advance for you help and clarifications. Any paragraph and laws you might share would be helpful. sincerely, XXXXX XXXXX