Anonymous wrote:Anonymous wrote:OP here. This was a surprise. He was 50 years old and it was supposed to last his lifetime, not be “all gone” a dozen years later. Assumed a modest $10,000 a year of expenses over 40 years. The uncle is not investment savvy.Anonymous wrote:Anonymous wrote:OP here. His quality of life was so shabby all these years, living in a bedbug, dirty apartment, never going on vacations, a few expensive instruments here and there. Uncle would probably not be able to repay anything but is supposedly taking over the cable bill, probably feels guilty. The trust verbiage allows gifts and reimbursement to caregivers that help him and accompany him for travel.
Why haven’t you done something years ago then? Why has your BIL lived in squalor when you believed there were several hundred thousand dollars available to support him?
You can't get blood out of a stone, as they say, but it's probably worth figuring out how to force an accounting and determine if there was an irregularity. And then see if there's a possibility of a judgement that could be enforced against the uncle's assets - especially things like the sale of a home or vehicles. But I have no idea procedurally how to do that.
Anonymous wrote:OP here. This was a surprise. He was 50 years old and it was supposed to last his lifetime, not be “all gone” a dozen years later. Assumed a modest $10,000 a year of expenses over 40 years. The uncle is not investment savvy.Anonymous wrote:Anonymous wrote:OP here. His quality of life was so shabby all these years, living in a bedbug, dirty apartment, never going on vacations, a few expensive instruments here and there. Uncle would probably not be able to repay anything but is supposedly taking over the cable bill, probably feels guilty. The trust verbiage allows gifts and reimbursement to caregivers that help him and accompany him for travel.
Why haven’t you done something years ago then? Why has your BIL lived in squalor when you believed there were several hundred thousand dollars available to support him?
OP here. This was a surprise. He was 50 years old and it was supposed to last his lifetime, not be “all gone” a dozen years later. Assumed a modest $10,000 a year of expenses over 40 years. The uncle is not investment savvy.Anonymous wrote:Anonymous wrote:OP here. His quality of life was so shabby all these years, living in a bedbug, dirty apartment, never going on vacations, a few expensive instruments here and there. Uncle would probably not be able to repay anything but is supposedly taking over the cable bill, probably feels guilty. The trust verbiage allows gifts and reimbursement to caregivers that help him and accompany him for travel.
Why haven’t you done something years ago then? Why has your BIL lived in squalor when you believed there were several hundred thousand dollars available to support him?
Anonymous wrote:OP here. His quality of life was so shabby all these years, living in a bedbug, dirty apartment, never going on vacations, a few expensive instruments here and there. Uncle would probably not be able to repay anything but is supposedly taking over the cable bill, probably feels guilty. The trust verbiage allows gifts and reimbursement to caregivers that help him and accompany him for travel.
Anonymous wrote:What’s the plan going forward if the trust is gone? Who’s going to pay?
Anonymous wrote:What’s the plan going forward if the trust is gone? Who’s going to pay?
Anonymous wrote:Medicaid can have premiums and copays. And he might be seeing providers that don't take Medicaid. Other expenses might be transit, furniture, household items, and other utilities.
Still, this seems like an awful lot of money to be gone. What did your uncle think would happen when it ran out?
I think you need to accept that the money is gone, and work out how your BIL is going to afford to live. You could try to sue your uncle but you might not get anything if the money is already spent.
Anonymous wrote:It’s 400k. But wasn’t the trust investing it the whole time? Something is not right with this. I would file a complaint and have it investigated.