What would happen if the son never told the granddaughter she was to get the stock own by his father and the son has already spent every penny of it? 20 Answers as of October 29, 2012

If a father passed away two years ago, his only daughter passed the previous year, he had a will leaving his only son executor of the will with his son getting all the property/ground the father owned, and a granddaughter (his daughters daughter) receiving all the stock he owned.

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Asset Protection and Elder Law Center
Asset Protection and Elder Law Center | Shadi Alai-Shaffer
Son can be in legal trouble for doing this, granddaughter can or may have a legal claim against him. She needs to seek an attorney for advice.
Answer Applies to: California
Replied: 10/29/2012
Law Offices of Gerald A. Bagazinski
Law Offices of Gerald A. Bagazinski | Gerald A. Bagazinski
The granddaughters guardian should be contacted and told they should contact an attorney.
Answer Applies to: Michigan
Replied: 10/29/2012
O'Keefe Legal Services, L.L.C.
O'Keefe Legal Services, L.L.C. | Sean P. O'Keefe
In Maryland, it sounds like if the granddaughter was a beneficiary and did not receive her distribution, then the granddaughter may have a claim against the executor son for violation of fiduciary duties in carrying out the will provisions. The executor son could be liable for the amount of the stock the granddaughter was supposed to receive.
Answer Applies to: Maryland
Replied: 10/26/2012
Hamblin Law Office | Sally Hamblin
As the executor of the estate, lying about the stocks is against his fiduciary duty. The court will know where the assets went. Lying about out could lead to jail time.
Answer Applies to: Michigan
Replied: 10/26/2012
Martinson & Beason, PC
Martinson & Beason, PC | Douglas C Martinson II
The granddaughter could have an action against her father's estate if he improperly handle the estate. Really need more facts to properly answer the question.
Answer Applies to: Alabama
Replied: 10/26/2012
    CARL C SILVER ATTORNEY AT LAW
    CARL C SILVER ATTORNEY AT LAW | Carl C Silver
    The granddaughter should sue the son for the value of the stock as of the date of death. Another remedy would be for granddaughter to reopen the estate which would enable her have son held in contempt of court for filing false documents to close the estate and have a lien imposed on the land the son received.
    Answer Applies to: Michigan
    Replied: 10/26/2012
    Law Office of Pamela Braynon | Pamela Y. Braynon
    If the estate was probated, every interested person should have been given notice of the administration. Unless and until the estate goes through the probate process, the purported property left to the son cannot be transferred into his name, unless the father placed his name on the deeds prior to his death. Stock normally has beneficiary designations and the holder of the stock, once they have determined the person is deceased, should send the proceeds directly to the beneficiary named by the owner of the stock. If that wasn't the case, the granddaughter should contact an estate attorney so that she can challenge the probate.
    Answer Applies to: Florida
    Replied: 10/26/2012
    Minor, Bandonis and Haggerty, P.C.
    Minor, Bandonis and Haggerty, P.C. | Brian Haggerty
    It's not clear from your post how son managed to spend what was not his. If he petitioned for probate of the will, he would have to account for the probate assets. If probate has not yet closed, file an objection to his account. If it has closed, there is a limited time to sue him over misappropriation of funds, so get a lawyer right now.
    Answer Applies to: Oregon
    Replied: 10/26/2012
    Gates' Law, PLLC | Thomas E. Gates
    He could be charged for theft. As a minimum, he would be required to pay the sum he gained from the sale.
    Answer Applies to: Washington
    Replied: 10/26/2012
    Law Office Of Victor Waid
    Law Office Of Victor Waid | Victor Waid
    Not knowing the age of the granddaughter, and assuming she is an adult, and her father received the land, and the will provided granddaughter is to receive all of the stock, she would have the basis for a lawsuit against the father who received the land and spent the proceeds from the sale of the stock. If granddaughter is a minor, then an adult needs to petition the probate court on her behalf and proceed to obtain authority from the court to file a lawsuit on behalf of the granddaughter against the son who received the land.
    Answer Applies to: California
    Replied: 10/26/2012
    Charles M. Schiff, Attorney at Law
    Charles M. Schiff, Attorney at Law | Charles M. Schiff
    I cannot understand how the son could "spend every penny of it" unless he was an owner of the stock. Even as executor of the will, the son would not be able to do what you suggest. If he was somehow able, it would constitute a breach of his fiduciary duty. He would be subject to a civil claim and possible criminal charges.
    Answer Applies to: Minnesota
    Replied: 10/26/2012
    James Oberholtzer, Attorney at Law
    James Oberholtzer, Attorney at Law | James Oberholtzer
    Based solely on the information you provided, the granddaughter has a claim against her father for failing to deliver the stock.
    Answer Applies to: Oregon
    Replied: 10/26/2012
    Frederick & Frederick PLC | James P Frederick
    There is too much not stated. How was son able to get access to the stock? Was there an estate opened? Was son serving as Personal Representative? If so, there may be recourse, if the PR acted improperly. You need to have this all reviewed as soon as possible by a probate attorney.
    Answer Applies to: Michigan
    Replied: 10/26/2012
    Leonard A. Kaanta, P.C. | Leonard A. Kaanta
    It sounds like there was noprobate of the estate, you need an attorney .
    Answer Applies to: Michigan
    Replied: 10/26/2012
    Neal M. Rimer, Esquire
    Neal M. Rimer, Esquire | Neal M. Rimer
    The son, fiduciary, will be liable for the breach of his duty... in his capacity as a trustee, if there was a trust, or as an executor, if there was a Will. If there was a Will, then there would have been probate. The judge and court oversee the process and the distribution. You seem to need some legal representation to get the proper information.
    Answer Applies to: California
    Replied: 10/26/2012
    Winnick Ruben Hoffnung Peabody & Mendel, LLC | Daniel N. Hoffnung
    Was there a will?
    Answer Applies to: Connecticut
    Replied: 10/26/2012
    The Schreiber Law Firm
    The Schreiber Law Firm | Jeffrey D. Schreiber
    Then he can be sued by the granddaughter for breach of fiduciary duty, conversion (civil law version of theft) and fraud.
    Answer Applies to: California
    Replied: 10/26/2012
    THE BROOME LAW FIRM, LLC
    THE BROOME LAW FIRM, LLC | Barry D. Broome
    Was the Will probated? If so, the executor having used the money for his personal use is a crime. He must make it good. Your financial plan is not complete until it is co-ordinated with your estate plan. Will your family be provided for when you are gone? Without a Will, the court will decide.
    Answer Applies to: Georgia
    Replied: 10/26/2012
    Goldsmith & Guymon
    Goldsmith & Guymon | Dara Goldsmith
    She can file a creditors claim in the father' estate. If not approved, she will need to sue the estate.
    Answer Applies to: Nevada
    Replied: 10/26/2012
    Musilli Brennan Associates PLLC
    Musilli Brennan Associates PLLC | John F Brennan
    You need to see an attorney and explain the situation in detail. Generally an executor has a fiduciary duty, and is personally liable, if he does not act in accord with the will.
    Answer Applies to: Michigan
    Replied: 10/26/2012
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