Hello
Am new to this forum and hope someone can provide some insight into my issue.
My father is old and senile, no longer able to communicate. Many years ago (1990s) he told me in confidence that he has some shares which he placed in my sister's name to hold in trust for him (maybe for tax planning reasons? don't know). He also gave me a copy of a trust document that my sister signed at the time confirming that she holds them on trust for him. This was then never mentioned again - I had a good relationship with my sister then & there was no issue of mistrust - until recently when I had reason to ask my sister if she still has these shares - she said no, and that she never did! When I tried to get an explanation from her she just ignored me and now refuses to have any contact with me (we live on opposite sides of the world). I sniff a rat to say the least - think she might have sold them and pocketed the money, thinking no one else knew about them other than my father who is now senile anyway. We are both expected to be beneficiaries of our father's will when he passes so my question is: will I still somehow be legally entitled to my share of those shares retrospectively even though they are probably gone for good now and the proceeds spent? Or not? Is there some sort of Trust law that covers this kind of scenario? I'm worried she will say that our father gifted her the shares - can I challenge this? He never said that to me. Oh, and she is also the named executor of my father's will. I know.
I know I should consult a lawyer but wanted to see if anyone here has any thoughts or had similar experience as I could do with a morale boost!
Cheers.
Am new to this forum and hope someone can provide some insight into my issue.
My father is old and senile, no longer able to communicate. Many years ago (1990s) he told me in confidence that he has some shares which he placed in my sister's name to hold in trust for him (maybe for tax planning reasons? don't know). He also gave me a copy of a trust document that my sister signed at the time confirming that she holds them on trust for him. This was then never mentioned again - I had a good relationship with my sister then & there was no issue of mistrust - until recently when I had reason to ask my sister if she still has these shares - she said no, and that she never did! When I tried to get an explanation from her she just ignored me and now refuses to have any contact with me (we live on opposite sides of the world). I sniff a rat to say the least - think she might have sold them and pocketed the money, thinking no one else knew about them other than my father who is now senile anyway. We are both expected to be beneficiaries of our father's will when he passes so my question is: will I still somehow be legally entitled to my share of those shares retrospectively even though they are probably gone for good now and the proceeds spent? Or not? Is there some sort of Trust law that covers this kind of scenario? I'm worried she will say that our father gifted her the shares - can I challenge this? He never said that to me. Oh, and she is also the named executor of my father's will. I know.
I know I should consult a lawyer but wanted to see if anyone here has any thoughts or had similar experience as I could do with a morale boost!
Cheers.