Hello, sorry for the long and strange post, but I am losing sleep/having a mental breakdown over this.
I am only in my early 20's and I am not sure what to do.
I bring this here anonymously as I am not sure I trust my own lawyer to be confidential giving advice on this matter.
I am a beneficiary of a family trust that holds a considerable amount of property, businesses and other assets.
The directors of the trust are my father, and a company with my father and I as directors.
I am also employed by a subsidiary of the trust.
The other beneficiaries of the trust are too young to understand how everything works, and what the implications of this could be.
I have been concerned that my father has some mental health issues for some time (bipolar disorder, depression), and has been in over a dozen relationships with women in the last 3 years including some where he has proposed to women only weeks after meeting them.
He has always talked about giving them money, buying them houses etc with money from the trust (he has no personal money), but luckily has not done it yet, usually as the relationships are over so quickly.
More recently my father has announced he has instructed real estate agents to sell a valuable property from the trust, which would also seriously affect the business that I run, and provides most of the trusts income. It would also render the other beneficiaries of the trust homeless as they currently live on the property.
I am concerned that proceeds from the sale of the property could end up in the hands of one of my fathers many girlfriends, and that the money is far safer being tied up in the property if my father has mental health issues.
I have not brought this up too aggresively with my father as I am concerned about his depression, about breaking up our family, and about him being able to stop paying my wages.
I would like to know what power I have in this situation to:
A: Instruct real estate agents that the property is not to be listed (listing it will harm the business operating from it)
B: Stop any sale of property unless a clear plan is in place on what will be done with the proceeds, and it can be enforced.
C: Potentialy get my father removed from his directors position if he does have diagnosed mental health issues that affect his judgement and causes him to not act in the best interest of the beneficiaries of the trust.
Any advice of what I should/could do would be greatly appreciated.
I am only in my early 20's and I am not sure what to do.
I bring this here anonymously as I am not sure I trust my own lawyer to be confidential giving advice on this matter.
I am a beneficiary of a family trust that holds a considerable amount of property, businesses and other assets.
The directors of the trust are my father, and a company with my father and I as directors.
I am also employed by a subsidiary of the trust.
The other beneficiaries of the trust are too young to understand how everything works, and what the implications of this could be.
I have been concerned that my father has some mental health issues for some time (bipolar disorder, depression), and has been in over a dozen relationships with women in the last 3 years including some where he has proposed to women only weeks after meeting them.
He has always talked about giving them money, buying them houses etc with money from the trust (he has no personal money), but luckily has not done it yet, usually as the relationships are over so quickly.
More recently my father has announced he has instructed real estate agents to sell a valuable property from the trust, which would also seriously affect the business that I run, and provides most of the trusts income. It would also render the other beneficiaries of the trust homeless as they currently live on the property.
I am concerned that proceeds from the sale of the property could end up in the hands of one of my fathers many girlfriends, and that the money is far safer being tied up in the property if my father has mental health issues.
I have not brought this up too aggresively with my father as I am concerned about his depression, about breaking up our family, and about him being able to stop paying my wages.
I would like to know what power I have in this situation to:
A: Instruct real estate agents that the property is not to be listed (listing it will harm the business operating from it)
B: Stop any sale of property unless a clear plan is in place on what will be done with the proceeds, and it can be enforced.
C: Potentialy get my father removed from his directors position if he does have diagnosed mental health issues that affect his judgement and causes him to not act in the best interest of the beneficiaries of the trust.
Any advice of what I should/could do would be greatly appreciated.
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