I am now Trustee of a Q-Tip Trust my deceased mother set up under Michigan law. In 1990 Sam, my father - still living, re-married Pam in the State of Florida. From the time period of 1991 to 1998, funds were taken out of this Trust mainly to the benefit of Pam's children in the amount of about $1 million.
There are two stipulations in the Trust: 1. The principal and income of the trust may be used for the medical care of Sam, and 2. Upon Sam's death, the Trust goes to only family relations of my mother, ie, grandchildren. So according to the rules of the Trust, the monies were taken out illegally. I am assume that this is embezzlement.
Is there any legal way of recouping the monies now? And in which State would I file?
biddles
There are two stipulations in the Trust: 1. The principal and income of the trust may be used for the medical care of Sam, and 2. Upon Sam's death, the Trust goes to only family relations of my mother, ie, grandchildren. So according to the rules of the Trust, the monies were taken out illegally. I am assume that this is embezzlement.
Is there any legal way of recouping the monies now? And in which State would I file?
biddles
