Administrators, executors, trustees, and agents have many legal duties under a will, trust or power of attorney. Many of them are unfamiliar with their new roles and unaware of the numerous legal minefields inherent in this area of the law. They need proper guidance in order to carry out their duties effectively and avoid liability.
An elderly couple left their daughter to manage an apartment building in Los Angeles when they moved out of the country. Over time, the mother died, and the father was placed under a conservatorship overseas. Meanwhile, the daughter mismanaged the property, essentially running it into the ground. The city declared it a health-hazard and directed rent to be sent to the city. In addition, the lender initiated foreclosure proceedings as well as litigation to take control of the property.
Just when the kiss of death appeared inevitable, a court-appointed trustee brought in Terry Magady. Terry was able to stop the lender dead in its tracks and worked with the city to free the rents. He then battled in probate court for an 11th hour loan and brought in a lender to pull the building back from the brink of death. The property was saved from foreclosure, finally selling for more that 40% over its appraised value.
“Terry solved the impossible for my family, my mother and me – we are deeply indebted to him.”
“For 20 years I’ve seen first hand how Terry comes up with truly innovative solutions for tough problems.”
“Terry is the one that other elder law attorneys turn to for the very complex, difficult cases – he is brilliant.”
“Terry Magady is one of the preeminent experts in the nation. There’s nobody like him.”
The Elder Law Center | Terry M. Magady, Attorney at Law | Tel: (310) 478-6543 | Email: [email protected]Testimonials or endorsements do not constitute a guarantee, warranty or prediction regarding the outcome of your legal matter.© Copyright 2024 | Site Design by 411 Graphics | Powered by Majestic Imaging