Chapter 9 - The Settlement of the Past
Two months after the trial, the civil asset liquidation of the Vance estate was finalized.
I sat in the high-rise offices of Vance & Sterling in downtown Atlanta, reviewing the final closing ledger with Thomas.
Outside the floor-to-ceiling windows, the winter sun shone brightly over the city grid.
"The distribution warehouse was sold at public auction last Tuesday for $680,000," Thomas reported, pushing the certified settlement statement across the desk. "After paying off the primary state tax liens and the outstanding bank mortgages, the net remaining proceeds total $312,000."
"And the River Road house?" I asked.
"The house sold for $520,000," Thomas smiled. "Because the property was held entirely under your grandfather’s trust deed, 100% of the net equity—$240,000—has been transferred directly into the Noah David Vance Irrevocable Security Trust."
I looked at the final balance line on the statement.
Total trust assets for Noah: $552,000.
It was more than enough to ensure that my son would never have to worry about his education, his healthcare, his home, or his security for the rest of his life.
"What about my father's bankruptcy filing?" I asked.
"The bankruptcy judge rejected his discharge petition due to clear evidence of corporate fraud," Thomas explained. "He is personally liable for $140,000 in restitution to the state. He will be paying twenty-five percent of his night-watchman wages to the state receiver for the next fifteen years."
"And Lauren?"
"Lauren filed a formal petition last week requesting a monthly stipend from your grandfather's trust, citing financial hardship as a single mother," Thomas said, handing me a copy of her handwritten court petition.
I read her letter. She had written three pages, begging for "sisterly compassion," promising that she had changed, asking for $2,000 a month so she could move into a better neighborhood for Ava.
I took my silver fountain pen from my purse.
I wrote a single sentence across the bottom of her petition:
REJECTED BY TRUSTEE. DISBURSEMENT DENIED PERMANENTLY UNDER SECTION 4(B) OF TRUST COVENANTS.
I handed the paper back to Thomas.
"File it with the probate court today," I said smoothly.
May you like
"With pleasure, Emily," Thomas replied, taking the document.
I stood up, pulled on my tailored wool coat, picked up my leather handbag, and walked out of the law office into the cool, clean winter afternoon air.
