That's incredibly sad to read, but he's at fault for it, signing a power of attorney to let his parents handle his money.
My dad gave me the best advice ever and I'm not a person making millions. Keep your friends and family separate from your money, If you're going to lend money to a friend or family member do it with the expectation that you're never ever going to see that money again and you're going to lose that friend or family member. If you're going to use professionals to touch your money, Vette them 6 ways to sunday.
At the end of the day, he's starting to do the right thing, he's going to make some good money over the next few years but he's starting from less then zero.
This isn't a case where this kid spent his way into bankruptcy like so many pro athletes. He as conned by his the people that he should have trusted the most.
TBH the one thing if I was his shoes, I would do anything I could to get his brother away from those scumbags.
__________________
My name is Ozymandias, King of Kings;
Look on my Works, ye Mighty, and despair!
|