Control of money can cause divisions in families.
Not all families get along.
This can be especially true when large sums of money are involved.
Such is the case with Elizabeth Marcus and Geraldine Lettieri.
According to the New York Post article titled “My mom swiped more than $13 million from my inheritance,” Elizabeth Marcus is suing her mom for siphoning off her inheritance.
He specifically left no inheritance to Geraldine.
She did not settle for this outcome.
Although Pamela—his other daughter—was the executor of the estate and Citibank was appointed to oversee the trust fund for Elizabeth who was not yet ten, Geraldine fought for control of the funds.
She finally got her way in 2003.
Since then, her daughter claims Geraldine has squandered her inheritance through selling properties in her real-estate portfolio and purchasing cars and homes for herself.
Elizabeth also accuses her of manipulating her, attempting to impersonate her to access her credit cards, controlling her finances and opening her mail.
Elizabeth has had enough.
She is fighting back.
Remember: “An ounce of prevention is worth a pound of cure.” When making your financial, tax and estate plans, do not go it alone. Be sure to engage competent professional counsel.
For more information about estate planning in Overland Park, KS (and throughout the rest of Kansas and Missouri), visit our estate planning website and be sure to subscribe to our complimentary estate planning e-newsletter while you are there.
Reference: New York Post (April 23, 2017) “My mom swiped more than $13 million from my inheritance”