Chapter 10 - “NO LIVING DESCENDANTS”
The certification was signed five years earlier.
Frank Mercer certifies that Diane Mercer has no living biological or legally recognized descendants known to the family adviser.
Known.
He knew.
Emily was two.
“What happened to the money?” Andrew asked.
Trust attorney Melissa Grant answered carefully.
“It remained within the Diane branch reserve.”
“So Frank took it?”
“No.”
Good.
The money was not sitting in his account.
Then:
“However, family adviser recommendations allowed loans from branch reserves to qualified family businesses.”
Mercer Amusements had borrowed.
$640,000 over four years.
Interest below market but permitted under old trust terms.
Frank had recommended them.
If Emily’s subtrust existed?
Independent review would have been required before loans affecting her allocation.
There it was.
Not theft of $2.7 million.
May you like
Control over accessible capital.
A lie that made borrowing easier.
