Los Angeles County Superior Court Judge Michael I. Levanas has signed off on a payment of $50,000 to be paid out to John E. Larkin from the family trust fund of Susan Strong Davis for work performed last year.
This is interesting given that Larkin is currently under criminal investigation by the FBI after allegations were made that the finances of Ms. Strong Davis have been mismanaged. And that she has been suffering from dementia for several years and could not have been in the right state of mind to have made financial decisions that resulted in the purchase of Beverly Hills property sold to her by Larkin at a profit of $300,000. And then a $2 million loan was taken from the trust to pay for the building of a new home on that property. Meanwhile, she already has a home in Palos Verdes Estates where she has lived for 3 decades.
The judge signed off on the payment without comment. And none of the 14 distant relatives that will inherit the trust assets have objected to the payment.
For more information on creating or administering a trust please contact a professional Attorney for Trusts in the Los Angeles area.
*This blog entry was not written by an Attorney and should not be constituted as professional legal advice.