08-26-2018, 05:18 PM
I understand some of the causes of homelessness and the man may be on a path of self destruction. The issue here is the money was donated to help him get into a situation where he could be helped. It appears the couple remained overseers for the money without any solid plan or accountability. They were in over their heads. This is why professional even have a difficult time with homeless and addicts. If even professionals can't guarantee results, how can this untrained couple who suddenly oversee $400,000? If friendship were enough to sure homelessness and addiction, these problems would not exist.
In another story I read, the couple has been on multiple vacations, bought a new BMW, and used some of the funds as a loan they claim they paid back. The looks of this, even if properly accounted for, don't look good. They never should have borrowed the funds. Maybe they tried to help him but without a solid paper trail or true fiduciary responsibilities, the situation doesn't look good for all involved. I don't have a feeling this will end well. They should have set up some kind of trust for him.
In another story I read, the couple has been on multiple vacations, bought a new BMW, and used some of the funds as a loan they claim they paid back. The looks of this, even if properly accounted for, don't look good. They never should have borrowed the funds. Maybe they tried to help him but without a solid paper trail or true fiduciary responsibilities, the situation doesn't look good for all involved. I don't have a feeling this will end well. They should have set up some kind of trust for him.