Childs' inheritance inventory

[wheeling22]

Hello,
My name is Jacqueline Loucks and I live in New Hampshire. Here is my situation.
I have 2 children (1 boy 16 yo + 1 girl 12 yo), they have just recieved $59,000 each from the estate of their grandmother. The WILL did NOT specify where the money had to go. When they recieved the money in the mail, there wasn't any paper work of any kind attached to the checks, just the 2 checks with their names on it. We called the executor of the Will to ask if we could give my son 20K of the 59K (39K went into a college fund). The executor said that she didn't see why not and since there is NO specification as to where the money was to go, it should be OK as long as I can show receipts of every penny spent. My son has a small lawn business and his business has been growing every year. He decided to buy a 2001 Pick up truck and a plow. I have every last receipt that he has spent. My daughters' money went into a college fund until she turns 18.
I just got something in the mail that is from the court that says that I have to file the INVENTORY for each child.
Will I be in trouble because I gave my son the money ? What should I do now ?

Thank You,


Jacqueline Loucks
Hampton, NH

 

[BlondiePB]

Hello,
My name in Jacqueline Loucks and I live in New Hampshire. Here is my situation.
I have 2 children ( 1boy 16 yo + 1 girl 12 yo), they have just recieved $59,000 each from the estate of their grandmother. The WILL did NOT specify where the money had to go. When they recieved the money in the mail, there wasn't any paper work of any kind attached to the checks, just the 2 checks with their names on it. We called the executor of the Will to ask if we could give my son 20K of the 59K (39K went into a college fund). The executor said that she didn't see why not and since there is NO specification as to where the money was to go, it should be OK as long as I can show receipts of every penny spent. My son has a small lawn business and his business has been growing every year. He decided to buy a 2001 Pick up truck and a plow. I have every last receipt that he has spent. My daughters' money went into a college fund until she turns 18.
I just got something in the mail that is from the court that says that I have to file the INVENTORY for each child.
Will I be in trouble because I gave my son the money ? What should I do now ?

Thank You,


Jacqueline Loucks
Hampton, NH

The executor was wrong. Yes, you are in trouble. The money was to be put into a very special "estate of ...." of each child that is accessible via court order only. You need to get the money back.

 

[BlondiePB]

Also, call an attorney that specializes in guardianships. You need council.

 

[wheeling22]

The executor was wrong. Yes, you are in trouble. The money was to be put into a very special "estate of ...." of each child that is accessible via court order only. You need to get the money back.

what is worse case scenerio ? I can't get the money back .

 

[BlondiePB]

what is worse case scenerio ? I can't get the money back .

Jacqueline, this is really serious. The court can charge you with with misusing/embezzlement of the funds. Please, seek council immediately.

 

[seniorjudge]

"...what is worse case scenerio ?..."
Jail