Lee_WSP wrote: ↑Wed Sep 16, 2020 11:31 pm
MerriebytheSea wrote: ↑Wed Sep 16, 2020 7:59 pm
Perhaps $25K seems petty to many. As you point out, it can disappear quickly when paying out professional fees, but for many families it is still a great deal of money.
Its not petty, but if you pursue this, the only winners are the lawyers litigating this frivolous lawsuit and all the beneficiaries will be out at least 25,000 if not owing on top of that. And all for what? Seriously, for what? Who will benefit if all is "made right"? Serious question, because i don't see it. Negligent people will get their comeuppance, but that's it.
Also, I am failing to see what the trust attorney did wrong. He's not even involved in the administration of the trust, or at least they typically aren't.
OP: (I can’t believe they kept forgetting the grandkids)
...previous experience auditing tells me that if an audit “pulled the thread on this sweater”, it would reveal many other problems beyond the 25 K. You already pointed out questions on the transaction statement you were able to view.
I suggest considering:
1. Can you afford a protracted, irritating, and convoluted battle over this? (Financially and in terms of your own life commitments and desires.)
2. Are you doing this based on principle (I.e. to punish or achieve some retribution)? or is it for tangible benefit to someone. Benefit need not be monetary (the 25K or any other misplaced or mismanaged dollars or errors), such as benefit to other clients of this broker? (Do you think this is the only instance, or a mode of doing business, and do you care?)
3. The minimum effective response (for you) is what I would recommend pursuing. What is the least you can do and still sleep at night. Do the answers above warrant sinking your resources (time, dollars, energy) into, and if so, how much?
-If you want to Go After them, get an attorney that you don’t even like (the pit bull kind
who is slightly scary...only half-kidding) and go after them. Get a legal strategy from (your) new attorney legal expert, and find what to expect for possible outcomes.
And don’t sign that global release.
Two examples,of high and low response (for your entertainment):
High response - “A friend” had a 10 year battle after someone stole her company clients, as she puts it, but she won. Won about $10 M (back) and spent nearly that as well, and totally worth it because what they did was wrong (her words)
Low response - do not discount the impact of a strategic low reponse!
“A friend” had a problem with an 8M/yr company who repeatedly worked wthe system with employee layoffs and much shenanigans, with many immigrants employed who did not always know their rights.
Two precipitating events: A safety incident occurred and a valued employee quit after a person nearly died (painting company, summer employee on a football scholarship dangling off a steep slate roof). And the company sent out a marketing flyer, including to employee families, touting how many 1000s of hours of employee time were donated by the company to charity activities...inside info was that the employees were not paid even though volunteering was mandatory.
The response was a series of phone calls and one letter, less than 30 minutes each (OSHA, the Labor Board, state unemployment agency), and a letter to the IRS containing the marketing flyer and a quick math estimate suggesting financials impacted.
Lo’ and behold, justice
- suits showed up, and the owner spent days locked in a room with papers flying in and out, and a bunch of money was paid to correct what was found. The whole company changed employee practices for the better in quantifiable ways, according to people who still worked there. Victory!