Every individual should be looked at with respect to this case simply for the fact that GH had passed away in 2008, and it appears that the daughters were beneficiaries of at least her portion. This tells me that they would probably already be due something with respect to 50% of the trust. Others outside of the trust must be looked at as well as I wonder how many knew there was a trust involved and which is now being contested by Fontelle who married Bob Harrod after 6 days in his company. That alone brings into play additional individuals.
Once again it is very apparent that many do not understand complex trusts. For those that continue to state this is a By Pass trust, I am going to state that I do not believe this was the sole purpose of this.
Trusts are set up for a variety of objectives. A trust is used by both individuals and businesses for estate/inheritance, capital gains/income tax to name a few but there are multiple other reasons.
Most are familiar with ones set up for minor children in the event of a parents death such as the Michael Jackson trust. They are also set up for the fact they are not public thus are confidential. Other reasons include tax purposes, provisions for multiple beneficiaries, to speed up the probate process, continuity of family businesses, et al. The confidentiality of a trust is the reason AH's lawyer required the other side to keep the contents confidential. It was not to "hide" things. Unfortunately, Fontelle's legal advisor did not seem to understand a fundamental purpose of a trust.
In order for a Trust to be valid all assets that are transferred to a trust are the property of the "Trust". This means that they are the property of the trust not an individual/s. This is important to understand.
It is also important to understand that there is a fiduciary responsibility of the Trustee that statements must be provided on a regular basis to the beneficiaries. It was this report the daughters were asking for not the will the day the meeting took place. Whether people wish to be particular over the word will/trust as per what the daughter wrote is moot. The terms are interchanged often as trusts are often not understood. The daughters probably already knew how this trust was set up in advance, just as I have done with my children. They are fully aware of what it states and the mechanics involved with respect to my business/personal interests.
There is unique wording to each trust. I will use mine as one example. There is a stipulation with respect to an employee which is unique. There are as well specific stipulations with respect to my business interests as well as personal. Anyone that attempts to contest my trust will receive nothing, and must pay their own legal fees. End of story.
The Harrod Trust was in effect at least by 1999 as we know that the Harrod Trust was involved at that time with respect to funding involving the GS. That is 10 years prior to Bob Harrod's disappearance. This tells me that this trust was active and used for a variety of purposes, and was not simply a "By Pass" trust. Bob Harrod entered into transactions involving his GS and I am going to guess one reason is that he was receiving a greater amount of interest than if it sat dormant in an interest bearing account. It was as well done while GH was alive and was their decision to make as it was their money not anyone else's. Quite frankly, I don't understand why transactions done with the full knowledge of both his grandparents is being questioned through a discovery process all the way back to 1999. This trust was effective prior to the illness/death of Georgia Harrod, thus it was not effective upon the death of an individual as it was being used prior to GH illness. This leads me to believe that it was "irrevocable". It as well leads me to believe that the marital home was part of this trust as it appears that the trust is responsible for the property.
Now I look at who has benefitted that knew about the trust.
The grandson did while Bob Harrod was alive but so did the Harrod Trust simply for the fact that the trust received the interest monthly not the bank. He as well paid a settlement amount back to the trust being the unpaid payments after Bob Harrod disappeared.
We do not know for sure whether the conservators are charging the account and/or if they are the amount.
The lawyers on both sides are winning.
Now for those that benefitted after GH died that may not of known a trust was involved.
Fontelle has, as she lives in a home already paid for or paid for by the Harrod Trust, receives her pension and I am going to take a guess that she is receiving one other. As well, she is receiving $3,850/mo from the Harrod Trust.
We know the barber lady did. What we don't know is the dollar figure. I keep seeing everyone state that she was "cleared" and had an alibi. I find it odder that this was stated so soon after. I am sure they all said they had an alibi but did it check out? There are not many missing person cases where I see that stated so quick and I have to question whether LE had a reason specific to her and her family. We know she was reported by more than one family with respect to elder abuse, and the other gentleman went ahead with that charge.
