Chapter 5
The Royce family trust made the situation worse.
Evelyn came from money independent of Callahan.
Her father owned a regional commercial real-estate company.
When he died, Evelyn inherited a twenty-two-percent voting interest through a trust.
Under her estate plan, if she died before Maple reached twenty-five, that interest passed into a trust for Maple.
Callahan was not trustee.
Evelyn had deliberately avoided naming him because his own business interests could create conflicts.
The first successor trustee was a professional trust company.
The family distribution adviser was Delphine.
Callahan looked at Rebecca.
“Why Delphine?”
“She was Maple’s godmother.”
That hurt.
At the time, Delphine had been one of Evelyn’s closest friends.
Callahan had trusted her too.
Once Evelyn was legally declared dead, Maple’s trust activated.
The professional trustee controlled the assets.
Delphine gained authority to recommend certain expenditures related to Maple’s education, travel, housing, and family welfare.
She could not withdraw principal.
Could not sell assets for herself.
Could not rewrite ownership.
But she gained access.
Information.
Influence.
And a seat inside governance discussions for the real-estate company because Maple’s trust held voting interests.
Rebecca looked at the records.
“Delphine has been voting as adviser on matters the professional trustee delegated.”
“Could she do that if Evelyn is alive?”
“That becomes complicated.”
“Meaning?”
“If Evelyn is legally alive, Maple’s inheritance may never have vested in the way everyone believed.”
Callahan stared.
Rebecca continued.
“The trust company acted under a valid court declaration. They’re not automatically wrong.”
“But Delphine knew the declaration was factually false.”
“That is the problem.”
The financial review began.
Nothing immediately showed theft.
That surprised Callahan.
Delphine had not been draining Maple’s trust.
Her expense recommendations were mostly ordinary.
Tuition.
Therapy.
Security.
Birthday expenses.
Then Nathan noticed one category.
Family representation and governance consultation.
Large annual fees paid to Delphine’s consulting firm.
Rebecca frowned.
“She was being paid.”
“How much?”
“Nearly three hundred thousand dollars over three years.”
Callahan sat back.
Not enough by itself to explain five years of deception.
Then Rebecca found something much larger.
The real-estate company was preparing a sale.
If approved, Maple’s trust would receive tens of millions.
Delphine’s consulting agreement contained a transaction bonus if she helped secure beneficiary approval.
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The amount could exceed four million dollars.
And if Evelyn reappeared before the deal closed, Delphine’s role disappeared.
