Law Offices of Mark E. Biernath Blog

Tuesday, February 07, 2012

Misappropriating Trust Funds

There are serious consequences if a trustee misappropriates trust funds.

An example of this recently occurred in Port St. Lucie, Florida. John Morgan was arrested on a grand theft charge for reportedly stealing more than $40,000 from his adult daughter’s special needs trust fund. His daughter, Sandra Morgan, who suffers from cerebral palsy and lives in a group home, was awarded $65,000 from a settlement due to a wheel chair accident that resulted in injury. Reports indicate that Morgan spent the money on personal items such as bills and purchasing a new car. Police said Morgan spent a total of $40,966.56 of his daughter’s money for his personal benefit.

For full story link here.

This blog entry serves as educational purposes only and does not constitute legal advice.

The Law Offices of Mark E. Biernath, P.C. assists clients with Estate Planning, Special Needs Planning, Probate / Estate Administration and Guardianship/Conservatorship in Georgia area including Atlanta Kennesaw Alpharetta Buckhead Doraville and Dunwoody.

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