Daughter sues her mother for wasting $13 million of inheritance.
A trust set up for a young girl was originally overseen by Citibank. However, in 2003 the mother took over the trust creating a battle in the future, according to the Daily Mail in “Daughter sues her ‘self-involved’ mother for ‘frittering away more than $13m of her inheritance – so she could buy cars and a $6m mansion next to Gwyneth Paltrow in the Hamptons’.”
It all begins with a couple meeting through a singles ad and then getting married. They had one daughter and divorced after a few years. The father died when their young daughter, Elizabeth Marcus, was nine.
According to court records filed by the daughter, her father did not want his ex-wife to receive any of his assets. Instead he left half of his estate in trust to Elizabeth Marcus, with a child from a previous marriage receiving the other half.
Elizabeth Marcus is suing her mother now, claiming that her mother has stolen her inheritance to buy expensive items for herself, including a mansion and fancy cars. Most of the original inheritance is now alleged to be gone.
The mother denies the accusations.
A question remaining is how was the mother able to gain control of the trust, if the father did not wish her to have it?
Reference: Daily Mail (April 23, 2017) “Daughter sues her ‘self-involved’ mother for ‘frittering away more than $13m of her inheritance – so she could buy cars and a $6m mansion next to Gwyneth Paltrow in the Hamptons’.”
