How Can an Irrevocable Trust Be Looted

[TWE]

My question involves estate proceedings in the state of: Ohio, though the irrevocable trust was written and executed in California by my Father and my step-mother, after selling all their Calif. property they relocated to Ohio. My Father had 4 children incl. myself. His wife also had 4 children, Both My Father and his wife were co-trustees w/ each parent naming one of their children as a successor co-trustee trustee. Also, I was told by my Father and his wife that only surviving children not spouses or grandchildren would recieve any trust assets upon the death of both my Father and his wife.

My oldest brother who had been named in the trust as the successor co-trustee died in 2000, at which time I was asked and accepted to serve as the new successor co-trustee, in the event of my Father's death, though I never received any written confirmation of my appt.

My Father died 2002, his wife was the surviving co-trustee and with no notice to me continued to control the trust and for nearly 5 years living off the income And SOMEHOW liquidated principal accounts and ultimately appointed her daughter as the co-trustee with her to facilitate final transfers of real estate OUT of the trust to my Father's wife individually, then subsequently she transferred the same real estate to her daughter (the other co-trustee). This was the last of the assets moved out of the original $3.2 mil. trust.

My Father's wife died in June 2012, her daughter (the co-trustee) informed me at her Mother's services that the Trust is depleted and no money or assets are left.

How is this possible w/out any written notice to me, aren't bloodlines followed if they never officially named me as the successor co-trustees on my Father's side? I have never seen the trust agreement, though I had asked my Father and his wife both refused at the time.

What recourse is available to me at this time? Thank you. Soured in South Carolina.

[jk]

aren't bloodlines followed if they never officially named me as the successor co-trustees on my Father's side?

Not at all. When dealing with a trust, family really doesn't enter into it. Heck, often times a banker or lawyer is asked to be trustee due to their business acumen.

I have never seen the trust agreement,

then how do you know anything about the trust?


One thing you never mentioned were beneficiaries of the trust. If you were not a beneficiary of the trust, what happened to the trust is really doesn't affect you since you would not gain financially from the trust anyway.

[TWE]

I was a benefiary of the trust as were my brothers, who are all deceased as we were advised by my Father at a family meeting. Though no trust agreement was ever provided.

In this case all trustees were family members from each side, ie., Father's side and wife side

How can I get a copy of Trust agreement ?

[harrylime]

http://codes.ohio.gov/orc/5808.13