What will happen if I am a trustee and somehow got my personal accounts mixed up with the trust account therefore it resulted in my using money?
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What will happen if I am a trustee and somehow got my personal accounts mixed up with the trust account therefore it resulted in my using money?
I got the 2 ATM cards mixed up. It was an honest mistake and I ended up owing the trust around $20,000 I have repaid almost all of it and will repay every penalty. is it likely the victim will try to bring criminal charges against me?As I said, it was not done intentionally, just my incompetence.
Asked on May 3, 2013 under Estate Planning, California
Answers:
M.T.G., Member, New York Bar / FreeAdvice Contributing Attorney
Answered 11 years ago | Contributor
Please seek legal help as soon as you possible can. Incompetence is not an excuse here to a breach of your fiduciary duty. The fact that you have made steps to pay the funds back is a plus but does not exempt you from the possibility of having legal action taken against you both civilly and criminally as per the laws in your state. Good luck.
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