Guidance with Trust Litigation
While trust litigation frequently involves trustee misconduct, trustees
may be working tirelessly to do the right thing, yet may face litigation
despite their efforts to manage the trust honestly and responsibly. Whether
you are a beneficiary or a trustee who has encountered a dispute, seeking
quality legal representation is essential for ensuring that your rights
are adequately protected.
Our trust litigation lawyer can assist you with:
- Failure to file tax returns
- Improper accounting
- Improper distribution of trust property
- Improper investments
Alpes Law Firm handles all types of trust lawsuits
in the area. We would be happy to consult with you to see
how we can assist you.
Why is Trust Litigation Necessary?
For the average person, he or she will administer a trust only once within
their lifetime, meaning they are entering unchartered territory. When
there is a significant amount of wealth at stake, it's not uncommon
for disputes to end up in court. Being an executor or a trustee is not
a small job, and
probate avoidance and
trust administration has become a highly specialized field which involves financial planning
in order to minimize tax consequences and maximize financial gains; however,
for many families who plan for passing down wealth from one generation
to the next, the human aspect is often overlooked.
With wills and trusts, it is not uncommon for problems to arise when there
are conflicting interpretations of the deceased person's wishes, or
when assets are left to friends instead of family members, or when beneficiaries
have conflicting opinions about what to do with certain assets or property.
Trust litigation, a fast growing area of legal work, involves the various
types of disputes that can arise in connection to a trust, whether the
disputes are about the trustee's conduct, or about the beneficiary's
interpretations of the trust document itself.
The Duties & Responsibilities of a Trustee
Trustees are obliged to administer trusts according to the terms set forth
in the trust document as well as local laws governing trusts. They hold
a fiduciary duty towards their beneficiaries, which is a legal relationship
of confidence and trust between the two parties.
In a fiduciary position, a trustee is expected to act and administer his
duties in a loyal fashion to the trust beneficiaries. If there is more than one beneficiary, he is to act impartially towards
all beneficiaries in his managing, investing, and distribution of trust property.
He should not have a conflict of interest nor should he profit from his
position without the express knowledge and consent of the beneficiaries.
Trustees may be held personally liable for problems arising with trusts,
such as improper investments of trust monies, improper management or distribution
of trust property or funds, lack of or improper accounting, or failure
to file proper tax returns due on trusts. If you have encountered such
a situation, we encourage you to
seek help from a London trust litigation attorney immediately.