Challenge a trustee investment manager or other fiduciary
This oftentimes puts them in a conflict of interest. They spend it in ways they would never spend their own money, racking up high commissions, doing favors for their business associates and sometimes earning additional compensation for themselves that was never intended. Oftentimes these people become hostile, evasive and even violent when asked for statements, accountings or really any information about what they’re doing.
In such a situation you have to come in with guns blazing. Our firm will make formal written demands for statements, account for all of the assets, especially checkbooks and bank statements, and investigate where the money has gone. If it has been mismanaged or stolen, you’ll want to transfer it elsewhere and possibly we’ll have the fiduciary removed and bring an action for recovery of the wasted/stolen assets. Possibly there could be criminal charges if it’s an embezzlement situation.
Trustees, investment managers and other fiduciaries typically are in a position to spend other people's money with little or no close supervision.