Can I have a lien placed on my father’s house if he abused his authority as custodian of his children’s assets?
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Can I have a lien placed on my father’s house if he abused his authority as custodian of his children’s assets?
I am 16 years old. My grandfather gave my younger siblings and me stock shares when we were born to be used for our college tuition. My father was named sole custodian. I just found out that he transferred all our shares, worth over $300,000, into his own personal “day-trading” account and lost all our money. He has a gambling problem. The only thing left is equity in the house. Can we have a lien placed on the house, if he misused our funds?
Asked on February 28, 2013 under Estate Planning, California
Answers:
Catherine Blackburn / Blackburn Law Firm
Answered 11 years ago | Contributor
You need to contact a probate litigation lawyer right away about this. Be sure that the lawyer does probate litigation beccause not every probate and estate lawyer will litigate.
You may have a claim against your father for misusing your stock. However, you cannot place a lien against his house without filing and winning a claim against him. In Florida, you would not be able to place a lien against his house because Florida protects homesteads from creditors' claims. I do not know if California has a similar provision.
Please consult a probate litigation attorney to find out what you can do.
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