Moms estate
Mom passed away in March, 06. She left her 11 grandchildren her share of stocks..two of these grandchildren being minors. The stock certificates were given to the mother and and have ultimately been turned in and the cash spent, by the mother. (about 10,000 each). Is there any recourse of getting the money back to be put in a trust for these boys? The estate is about to be closed in the next couple weeks..I hate to see these boys lose their money their gramma so wanted them to have. The will specifically says any minors inheritance is to be placed in a trust until they are age 21 under the NY Uniform Tranfers To Minors Act.. Any advise will be appreciated...thank you in advance
Re: Moms estate
To my knowledge, this does not become an estate matter/problem, but is handled between the children and their mother once they become adults. If the mother misappropriated funds she was holding as their guardian or trustee, they have a right, upon attaining majority, to sue her. In part, this may also be controlled by the language of the Will, which I have not seen, as to what rights/remedies are available if a trustee acts improperly.
