QUESTION
16 yrs ago my spouse secretly violated a trust. Can I loose my home if beneficiary sues for the funds?
Asked on Jan 09th, 2018 on Trusts and Estates - California
More details to this question:
16 yrs ago my spouse violated a trust of $100,000. And lied to the whole family about it. We believed him & never checked it. Now benificiary will be 18 & wants his money. Can I loose my home paying his trust violation even if I knew nothing about it till yesterday. I can't have my children & I homeless due to his selfishness. I don't know what to do and I'm very scared.
1 ANSWER
Estate Litigation Attorney serving Redlands, CA
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Normally, the trustee alone is responsible for any wrongdoing. However, if you benefited from the funds or there was a bond company that he has to answer to, then it is possible that your community assets are available to satisfy any lien.
Answered on Jan 14th, 2018 at 9:14 PM