This is an entirely personal issue, and TV Tropes may not be the best place to ask about it, but I'm not sure where I would
ask about it, and I know the people here are relatively nice, so here goes:
My grandparents were rich. Not Richie Rich
rich, but definitely richer than my parents. When they went senile, most of that money went to psychics and phony "contests" while we tried and failed to prove that they were no longer capable of handling it, so my parents inherited almost nothing from them. My father had previously mentioned farmland that was worth hundreds of thousands of dollars when they sold it, but I assumed the money from that had also gone to the psychics and the contests.
Today, in response to a question, he explained to me that the farm money had gone into something he called a "charitable remainder trust." According to the people my grandfather had made the trust with, 6% of the value of the trust would be divided between my father and uncle every year for the rest of their lives, and upon their deaths, the remaining money would go to charities my grandfather had specified. (I have looked on Wikipedia, and this is in fact how a "charitable remainder unitrust" is meant to be distributed.) My father grew suspicious of the bank that was handling this, so he transferred control of the trust to another bank—which told him that the money was supposed to be 6% of the profit made on the trust
, and forced him and my uncle to give it thousands of dollars to make up for previous "overpayments." My father and uncle have since not seen a single dime of the profit they were supposed to be paid.
My father has currently given up on ever getting the money back, but my brother mentioned to him that there might be laws under which he could lodge a suit. Would the law work for him or against him in this case, and if it would work for him, how might I revitalize him? (My father is past normal retirement age, and that money would greatly help him once he becomes too old to work.)
(If it matters, my grandparents lived in Illinois, and I believe the trust was initially established there. The bank that currently oversees it is in California. My grandparents died three years ago, and the trust must have been established shortly before that, but I'm not sure when my father switched banks.)
edited 22nd Dec '11 7:13:22 PM by feotakahari