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| Wills, Trusts, Estates Wills, trusts, estates, gift tax planning, etc. |
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#1 |
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Junior Member
Last Online:
Mar 27th, 2008 08:21 AM Join Date: Mar 2008
Posts: 1
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This is a very complicated case involving my late Fathers estate. He passed
away fifteen years ago and the estate has just been closed March 13, 2008. Without getting into all the complicated details there is a point of fact that was not covered in the closing and at this point I am not sure why. My Fathers estate included his Transport Company which was est. mid 60's and at the time of his death had 140 pieces of heavy equipment. The Executor and Trustee of the Estate took it upon themselves to take over the company that my Father left for me and my younger brother and sold it off. We were not included in this process at all we were treated like outsiders the whole time. My Father legacy was supposed to be ours. Now, the Executor assured us that a debenture against the equipment would be our saving grace. In the meantime, the Executor found three interested parties who were interested in buying the company. The debenture required five signatures the Executor without looking at credit backgrounds signed off on this debenture on his own merit. The other trustee was called and made aware of the situation and he did not agree at the time because he was out of town but, the Executor still went ahead and signed off on it. The three parties later faulted on the deal and the money was lost. I have yet to see anything done on this point and I don't know what direction to take. During this fifteen year struggle my Brother and I have been ignored, misled, disappointed,as well as, flabbergasted. We have sought legal counsel several times and every time we were given excuses as to why they would not represent us. We went through five judges to get a closing and the last judge I feel, we put way too much faith in has let us down. Anyways, if you could give me some direction as to how to pursue for the loss of the debenture that would be greatly appreciated. |
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#2 |
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Posts: n/a
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You could try to sue the executor for negligence if you feel that that could be argued...where does the fault really exist here? And do the lawyers have any responsibility?
You might want to have somebody review the entire file and advise you. |
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