Viewing Single Post From: Soaptown USA Loose Lips B&B/Y&R
Feb 9 2013, 09:29 AM
- Elite Member
- November 3, 2011
They did the same thing on the B&B with Thomas shares left by Stephanie. Taylor was the trustee of his shares and gave him Stephanie shares upon her death. Stephanie change the Irrevocable trust using a grandfather law.
- Sammie Jo
- Feb 9 2013, 12:31 AM
And rightful so. It may not have been her company but it was her trust fund that Victor stole from. Once he (or anyone else) sets up trust funds, the funds belong to that person that it was set up for, and he can't take from it without their permission.
I wish people would check their facts before spouting off, the person who sets up a trust fund can do any damn thing they please with it, including canceling it.
It depends on whether it was set up as a revocable fund or an irrevocable fund.
If it was irrevocable, then victor couldn't have "stolen" any money from it, so if he did take his own money out of it, then it was a revocable trust, and he could do as he damn well pleased.
Anyone can google this and find out for themselves.
Thomas lost his shares. In real life, trust agreements required a judge permission to changes and modifications. It also required written notification to the trustee and trust party to appear in court.