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A Long Island mom has been accused of selling the properties bequeathed to her daughter in order to fund a lavish lifestyle, including buying expensive cars and a Hamptons mansion.
Elizabeth Marcus was left the huge portfolio by her father, real-estate investor Alan J Marcus, when he died in 1994.
But according to a case in Bronx Surrogate’s Court, mom Geraldine Lettieri has been frittering it away.
Elizabeth claims in court papers that her mom is 'irrational, self-involved, and solely motivated by money and greed' and only married her dad for the money, according to the New York Post.
I have no sympathy for the mother or the daughter. "Birthright" indeed!
The property was left to the daughter who was then 9 years old, not the mother. So yes, the mother stole her daughter's property, birthright if you want to call it that, but either way, it was not the mother's to spend.
The property was left to the daughter who was then 9 years old, not the mother. So yes, the mother stole her daughter's property, birthright if you want to call it that, but either way, it was not the mother's to spend.
THIS is precisely what I am up against NOW. My son passed away just 5 months ago suddenly, and has 2 young children by 2 different moms. Eldest child is 13 going on 14 and the other was just 13 months old.
Problem is the mother of the 13 month old is a ***** and has alienated everybody including myself and anyone who was close to my son. He died suddenly.. no known cause of death and was only 41 yrs old. BUT the problem is.. He passed WITHOUT a will.
In these cases.. with no executor or beneficiaries labeled ( Life and Pension fund changed carrier's just months before he died) were not carried forward when carriers changed in workplace. Everything got frozen.. SO, I now have to go to court and gain Administrative rights to settle his Estate. Lawyers, Courts $$$ being actually taken out the kid's mouths in the future!!
The children are the only one's with standing to inherit 50-50 .. and I get ZIP, his brother gets ZERO.. his ex gets nothin' and mother of youngest gets nothin'. So because I do not trust baby's momma.. I want to put her inheritance into a trust by 3rd party.. not her mother. So mommy dearest would have to go thru that 3rd party to access her daughter's inheritance.. I'm aging and do not want myself responsible and don't want the mother of the 13 Yr old to be hassled by this nasty young women.
The story of this thread proves a point in my mind.. Inheritances to children should never be put "INTRUST" to someone without oversight.. as in Op's case 13 Million was defrauded. I would love the Court "Child Advocacy group" be the intrust holder of my wee grandchild. SO if mommy dearest requests $$ it has to pass the SMELL test!!!!
I have known many cases such as this.. and this thread just popped up to encourage my resolve to make sure 3rd party overseas little one's inheritance.!! TY OP for this reminder
PLEASE remember.. HAVE A WILL!! and Executors that you TRUST!!
Mechanically you create a written contract between the trustee and the owner, and then open bank accounts (as needed) in the form “X Y Z as trustee for the benefit of A B C under Trust Agreement of MONTH, DAY, YEAR”
This said, the mother is horrible, she basically stole the child's money. My grandparents (from both sides) set up trust funds for us and they also had a will. So no issues there. Plus, I trust all my family members.
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