A lawyer needs to get involved immediately while the funds can still be traced, to protect the childrens' interest and put the children's names on the deed. Anything can happen in the future and without their names on the deed that money is essentially gone forever.

I was a victim of a similar scam and never understood, as a child, that my interest in the "family vacation home/business" (it was understood/common knowledge my college money from my grandfather was used for it) did not have my actual name on anything. Kids trust their parents and don't have the perspective to understand the legal issues of ownership, inheritance and trusts. In the end, my step-mother (since I was 2 years old) inherited my father's interest when he died (I was still a minor). She pleaded poverty, refused to sell the property for my education, said she needed the income from it to live on etc. She gave me a few "gifts" of money for birthday and Christmas over the years, but I paid for my own college. My step-mother, the only mother I had ever really known, kept telling me I had an interest in it and that my children would have it one day. Unbeknownst to me, she gave it to her son by a deed. I did get a lawyer when a family member let me know it had just been sold (nearly $3 million and she never even told me). She lied in depositions to save her and her son's skin. Charges were fraud, unjust enrichment and breach of fiduciary duty. My daughter graduated from college and we and she have 3 times more in loans than the amount my grandfather left for my college. We will do the same for our other child and have little to retire on. Meanwhile my step-mother and step-brother have millions to retire on that started out as my college fund (from my blood relative with no blood relation to them)invested by my father in a vacation home/family business for my future. The sister should GET A LAWYER IMMEDIATELY to protect the childrens' interest before it is too late.

Once the property is your mother's, its hers, and you are out of it.

If, however, Brother scammed Mother, you are likely liable as an accomplice. Get a lawyer.

Bart, whoever you are, I wish you would write more and often – you make good solid sense everywhere I have seen you.

Given the banksters and other grabbing every dime, getting some use out of the old man's dollars before they are taxed into oblivion makes sense.

About college – someone – an idiot – on here actually said the father couldn't even spend "the daughter's" money on college for the kids!

Give me a break!

I think Grandpa would be happy with this, and whoever wrote the letter in is just whining.

Wonder why many liberals here don't get it? Dad has to invest SOMEWHERE, and frankly a beach house beats the markets on many, many fronts.

Better this than the Obamanators stealing every dime, which is what is happening to you and me as we speak!

Joannah

http://windscreensite.com

The issue here of course is what the girls will receive once they come of age and are thus legally entitled to dispose of these funds as they see fit.

In the meantime, Dad has not only the right, but the OBLIGATION, to deploy these funds to the best advantage of girls in question – and a vacation home for now followed by a sale (and cash) later is at least not unwise, and at most does not entrust these dollars to those incompetent to manage them (i.e. Fidelity, Oppehheimer, a hedge fund, Congress, J. Blow, or anyone else wrong-headed).

Unless the initial letter was edited, I saw no statement re who owns the vacation home in question; who can use it; or what Dad's big plan for its disposal might be.

Given that Dad had access to the funds at issue, it would appear that Grandpa allowed such access via the terms of the will, so any legal issues are settled out-of-hand.

Suppose our letter writer had indicated Dad had invested with Madoff and "all the funds were exhausted," or that Dad had given the money to the girls – young girls – to use as they saw fit, and they bought an expensive pony. Doubtless all you here would second guess either one and apply the "moron!" label to dear old Dad.

No one has been cheated here, and at worst, Dad will have made a poor investment. He could hardly do worse over the next 10 years than my own 401K – invested with Fidelity – has done over the last 18 months.

Low "Blow," on the drugs comment, by the way, J.!

While it could be a risky investment and a waste of money, it is quite possible that a vacation home could be a worthwhile investment if it's the right deal / location. It could also provide the entire family with enjoyment and relaxation that the parent could be saving for otherwise.

If the children are young, as the writer suggests, the house could appreciate in value in the long term, and be sold for college costs, down payment on a house for the children, etc.

As long as the parent is responsible with finances in general, there is no way to assume this is a bad thing to do with your child's money. In the end, the pot of money is family money, and as long as you are a responsible parent, and plan on supporting your child when they need help, I don't see an issue.

He clearly left his son in charge of the inheritance until the children come of age. The only thing to do at this point is put the children on the title to the house.

If there is some legal remedy. the other siblings should use it, but otherwise it is a lost cause. That is why this is called estate planning.

By the way, Bart, having gone through the estate planning process, it was not Grandpa's intent that his son blow the inheritance for his grandkids on a vacation home.