Q: Sister#2 hired fiduciary, holding #1's 2.5 million for sister & family. No return to #1. Is this even legal?
Feduciary denies holding #1's (sister's) money for beneficiary #2 who originally hired fiduciary to be conservator. This fiduciary using excuses, denies wrong doing but shows no sign of returning #1's money. 1# has early dementia and has dedicated friend of 28 years helping with no pay asked. Is #1 being taken advantage of?
A:
Under California law, a fiduciary, such as a conservator, is legally obligated to act in the best interests of the person they are representing, in this case, your sister #1. If your sister #1 has early dementia and has appointed a fiduciary, the fiduciary is responsible for managing her affairs in a way that benefits her, not the person who hired the fiduciary.
If there are concerns that the fiduciary is not acting in your sister's best interest, especially if they are refusing to return her funds without a valid reason, this could potentially be a case of financial abuse. California takes the protection of vulnerable adults, including those with dementia, very seriously.
You may consider taking legal action. It would be advisable to contact an attorney who is experienced in conservatorship or elder law matters to discuss the specifics of your sister's situation. They can provide guidance on whether the fiduciary's actions are in violation of their duties and what steps can be taken to protect your sister's interests.
Remember, the welfare of your sister is paramount, and legal avenues are available to ensure her assets and well-being are safeguarded.
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