C
crambler
Guest
state of pennsylvania:
i'm looking for advice / /direction / options in order to help my mother, who's become the victim in the following situation:
my mother recently informed me that my father, who is a licensed financial planner, reportedly took all the money from her personal ira account, of which he was the account manager (he recommended that she move her money into this kind of an account, and offered to watch it for her). this account contained both money earned from the ira and several year's worth of personal earnings she had accumulated as a manager for a small business (independent from his income).
he claims that he needed the money, in order to help pay off a loan he took out (using the mortgage from their home, which was almost paid off, as collateral) for $90,000. he refuses to tell her what he needed her money for, and why he took out the loan in the first place. all the money (hers, and the loan money) is apparently gone.
she has, in effect, no savings to speak of, because of his malicious actions. what are her options? what rights does she have as a citizen? as a wife? can she legally find out if he's hiding funds in another account? is there a way for her to know how much money he's actually spent, and what he spent the money on?
she feels that she can't do a thing, because he's currently supporting them (he's making the majority of the cash they have coming in currently)-- if his license was taken away, they'd have no income or savings, other than what she's making (about $18,000/year). she is 66 years old, and feels that she can only work for another couple of years.
i realize that as her account manager, he can legally move money from her account to other accounts, but wouldn't the bank be responsible for informing the person who's account it actually is that this is happening?
she feels absolutely trapped in this situation, because he knows what he can get away with, and refuses to offer any information regarding what he's done. they've been to a marriage counselor, but he refused to answer any direct questioning regarding his actions. he also refused to see a psychologist.
just need some clarification here. what to do?
i'll be the one who's ultimately financially responsible for my mother when my father's no longer around -- i'll be the one supporting her, and paying off their mortgage.
thanks for any direction you can offer me regarding this situation. i should add that we have no money for legal fees at this time -- we don't wish to open a case against my father. we only want information about what her options are, and/or how pennsylvania law pertains to her situation.
if you cannot offer this advice, could you recommend a direction we could pursue? a women's rights organization?
i'm afraid i'm at a loss here.
Calvin A. Rambler
Senior Designer
élan communications
901 Pennsylvania Avenue
Pittsburgh, PA 15233-1408
cell: 412.475.0252
home: 363.5304 (leave recorded message)
i'm looking for advice / /direction / options in order to help my mother, who's become the victim in the following situation:
my mother recently informed me that my father, who is a licensed financial planner, reportedly took all the money from her personal ira account, of which he was the account manager (he recommended that she move her money into this kind of an account, and offered to watch it for her). this account contained both money earned from the ira and several year's worth of personal earnings she had accumulated as a manager for a small business (independent from his income).
he claims that he needed the money, in order to help pay off a loan he took out (using the mortgage from their home, which was almost paid off, as collateral) for $90,000. he refuses to tell her what he needed her money for, and why he took out the loan in the first place. all the money (hers, and the loan money) is apparently gone.
she has, in effect, no savings to speak of, because of his malicious actions. what are her options? what rights does she have as a citizen? as a wife? can she legally find out if he's hiding funds in another account? is there a way for her to know how much money he's actually spent, and what he spent the money on?
she feels that she can't do a thing, because he's currently supporting them (he's making the majority of the cash they have coming in currently)-- if his license was taken away, they'd have no income or savings, other than what she's making (about $18,000/year). she is 66 years old, and feels that she can only work for another couple of years.
i realize that as her account manager, he can legally move money from her account to other accounts, but wouldn't the bank be responsible for informing the person who's account it actually is that this is happening?
she feels absolutely trapped in this situation, because he knows what he can get away with, and refuses to offer any information regarding what he's done. they've been to a marriage counselor, but he refused to answer any direct questioning regarding his actions. he also refused to see a psychologist.
just need some clarification here. what to do?
i'll be the one who's ultimately financially responsible for my mother when my father's no longer around -- i'll be the one supporting her, and paying off their mortgage.
thanks for any direction you can offer me regarding this situation. i should add that we have no money for legal fees at this time -- we don't wish to open a case against my father. we only want information about what her options are, and/or how pennsylvania law pertains to her situation.
if you cannot offer this advice, could you recommend a direction we could pursue? a women's rights organization?
i'm afraid i'm at a loss here.
Calvin A. Rambler
Senior Designer
élan communications
901 Pennsylvania Avenue
Pittsburgh, PA 15233-1408
cell: 412.475.0252
home: 363.5304 (leave recorded message)