QUESTION
How long would I have to hold my parents accountable for spending the money left to me by my grandparent?
Asked on Nov 19th, 2013 on Estate Planning - Michigan
More details to this question:
Hello! I am hopeful someone would be able to provide the statute of limitations on an issue with a will. I was left a large sum of money in a will by a grandparent and my parents spent most of it. When I turned 18, they gave me the very diminished remainder as well as an apology.
9 ANSWERS
Probate Attorney serving Newport, OR
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Minor, Bandonis & Haggerty P.C.
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See an attorney immediately. Basically, the statute of limitations probably started running when you turned 18, but not necessarily. You may still have time to recover something.
Answered on Nov 21st, 2013 at 3:54 PM
Business Planning Attorney serving Livonia, MI
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Frederick & Frederick Attorneys at Law
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The answer depends on a number of facts not included in your summary. HOW the money was left is one of the bigger issues.Was it in trust? Was it through an estate? Were your parents conservators? How much money are we talking about? Assuming you have a claim, you are going to need to sue your parents. Assuming you win, are they collectible? If not, then I see no point in going forward. If they are, it is likely you would be in line to receive the money through your own inheritance, anyway. It may not be worth ruining your relationship with your parents, as well as jeopardizing your future inheritance. There are various statutes of limitations depending on the cause of action and the facts.
Answered on Nov 21st, 2013 at 3:53 PM
Trusts Attorney serving Sacramento, CA
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Law Office of Victor Waid
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You had one year to bring a lawsuit against the parents for misuse of the funds left to you by will of your grandmother. However, you are advised to seek the opinion of a lawyer face to face, as the statutory time to bring a lawsuit may be longer since the action occurred while you were a minor, in which case when you turned 18, you may have a longer period of time to file a suit.
Answered on Nov 21st, 2013 at 3:53 PM
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It depends, if its fraud or negligence. Also has a discharge been entered in the probate? Short answer the Statute may not have run, possibly not more than 6 years, but possibly a lot less. You should speak with an attorney where the probate was handled to get specific answers to your questions. If a probate was administered through the court the attorney will need to review the file. This information is only intended to give general information in response to an inquiry. It does not establish an attorney client relationship. This response is only based upon the limited facts presented and is merely intended to assist you in determining if you should contact an attorney to provide you with legal advice.
Answered on Nov 20th, 2013 at 12:40 PM
The sooner you file a claim against them, the better. If the will allowed your parents to use some of the funds for your care and upbringing and that's what they used the money for, there's not a lot you can do. However, if they squandered the funds, you can sue for full recovery.
Answered on Nov 20th, 2013 at 12:40 PM
Business Law Attorney serving Bingham Farms, MI
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James T. Weiner, P.C.
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You have 3-6 years from the time you turned 18 depending upon whether you want to charge them with simple conversion or fraud.
Answered on Nov 20th, 2013 at 12:40 PM
Commercial Contracts Attorney serving Boise, ID
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Peters Law, PLLC
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It depends on what state you live in. I believe in Idaho, it would be two years after you turn 18. Other states may be longer.
Answered on Nov 20th, 2013 at 12:39 PM
2 Awards
One year from the time you turned 18.
Answered on Nov 20th, 2013 at 12:39 PM
Appellate Attorney serving Grosse Pointe Farms, MI
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Musilli Brennan Associates, PLLC
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I would need the details in order to form an opinion.
Answered on Nov 20th, 2013 at 12:38 PM