Litigation is a common result of disputes over a trust. This litigation can challenge the actions of the trustee or even dispute the validity of the trust itself, and whatever the outcome is, it has a dramatic impact on the financial future of all involved.
If you are involved in a trust-related dispute, there is no better time than the present to speak to a knowledgeable probate attorney. The right Coconut Grove trust litigation lawyer can assist you with these complex legal cases and bring them to a fair resolution.
Understanding Trust Litigation
Trust litigation is a type of lawsuit that involves disputes over how a person’s trust is formed, distributed, or administered. Often, these trusts contain personal or financial assets, which means the outcome can have a significant financial impact on the people involved. Litigation can occur when a family member believes they were not treated fairly or that fraud was involved somewhere along the way. A Coconut Grove attorney has the resources to identify the problem at the heart of the trust litigation and provide guidance on the next steps to take.
Contesting a Trust
Much of the litigation surrounding a trust involves challenges to the trust itself. These challenges—or contests—can result from a wide array of issues. Given how complex these cases can be, it is vital to have the guidance of a Coconut Grove trust litigation attorney before proceeding.
Often, someone may make a challenge to a trust due to the “lack of capacity.” When a party creates a trust, they must have the legal capacity to do so. This means being over the age of 18 and of sound mind. Evidence that a person was not mentally competent when executing the trust documents could result in a successful challenge in court.
Other contests could involve the lack of formalities. There are certain legal formalities that a trust document must contain, including that the document is in writing and signed by the trust creator. These technical rules are strictly enforced, and failure to comply could lead to a legal challenge.
Breach of Duty by Trustees
A hotly contested issue with many trusts is an alleged breach of fiduciary duty. The trustee—which is the party who administers the trust—holds an obligation to all the other parties with interests in the trust, known as a fiduciary duty. The trustee holds this duty not only to the beneficiaries of the trust but also to co-trustees, trust creators, and even certain creditors. The breach of this duty could result in litigation.
There can be many different reasons why someone might claim there was a breach of the trustee’s duty – either because the trustee did something wrong or because they failed to take action. Any time a trustee takes a step that is not in the best interest of the relevant parties, it could imply a breach of the fiduciary duty. This could occur after the failure to account for trust property or the mismanagement of investments. Some trust litigation is the result of the trustee acting in their own self-interest instead of protecting the interested parties in the trust.
Learn How a Coconut Grove Trust Litigation Attorney Could Help
Trust litigation is complex and the outcome of these cases will have a major effect on everyone involved. For many people, these cases will determine whether or not their loved one’s wishes are carried out after their passing.
If you are facing the possibility of trust litigation (as a trustee, a beneficiary, or another interested party), now is the time to seek out legal help. Contact a Coconut Grove trust litigation lawyer right away to discuss your situation.