Mrs. Esposito lived in her own home, where her adult child was serving as her trustee and also living in the home. During her lifetime she and her now deceased husband acquired and sold several rental properties but kept three single-family homes beyond her own residence as income and future inheritances. However, the adult child trustee purchased two multi-unit properties at the height of the housing bubble, along with a high-end luxury sports vehicle a few years before, and receiving an exorbitant monthly income that exceeded the rents coming in. In credit to a mandated reported, this case was channeled through the public guardian’s office and a sibling found us to serve as successor.
The court investigator was concerned about the second hand smoke dangers to Mrs. Esposito and having the adult child removed for her safety. Having marshaled the vehicle into secured storage, the adult child accepted an offer to travel away and did not return. Our job included managing several income properties and bringing them up to code, as the former trustee purchased the units as/is and the ones in the trust were never maintained.
Our involvement produced 100% rental occupancy with rents higher than when we were appointed. Mrs. Esposito lived another two years and was quite happy with her improved surroundings and was allowed to live in her home until she passed.Note that information has been changed to protect our clients' identity.
Any similarity to current or past clients may be coincidental.