Have you or someone else been named in a trust litigation suit? You need the support of an experienced trust litigation lawyer to understand how to proceed. Trust litigation can occur as a result of a variety of different types of challenges in the administration of a trust but it is your role as a beneficiary or a trustee to take quick action and to retain a trust litigation attorney in Montana.
When any person wants to leave behind financial security for their loved ones after their passing, a trust is one of the most popular tools for doing this. A trustee is responsible for managing the assets inside the trust and ensuring that the trust is administered to its terms. The trust funds can be handled until the beneficiaries are legally allowed to handle them but unfortunately, disagreements around trust management often arise, causing many residents to argue about their terms. It is important to retain the services of an experienced and talented attorney as soon as possible after this situation happens.
Reasons to Get a Lawyer for Your Case
Because trusts often involve ample resources and assets inside and can involve large sums of money, there are many different kinds of disputes dealing with the trust. Some of the most common examples of trust litigation include misappropriation of trust funds, questioning the legality of a trust formation or different interpretations of a trust.
Unfortunately, as a beneficiary you might also discover that a trustee has improperly managed the trust or has violated their fiduciary duty. In doing so this could expose them to personal liability for mistakes they have made that have harmed the value of the trust and you might need to turn to a trust litigation lawyer in Montana to get support with this. Trust and estate litigation is the area of the law involving the resolution or litigation of trust proceedings. Many different types of matters fall under this umbrella but all primarily relate to the creation or management of a trust.
It can be difficult to move forward with claims like this especially if you know the trustee. A trust lawyer will be highly knowledgeable about the most common issue associated with trust management. These disputes can arise between a beneficiary and another fiduciary, between a trustee and beneficiaries or from third parties. Some of the common examples of types of claims include issues over investments, environmental claims, claims for breach of fiduciary duty, claims for breach of duty of loyalty, undue influence, elder abuse, trust contests, disputed creditor claims, modification of trusts, capacity, and trust validity.
Although it can be complex to take these cases to court it is also extremely important to involve a lawyer when a trust litigation matter is escalated to the point of going to court. If you believe that a trustee has mismanaged funds, for example, you need to take this situation seriously and ensure that a knowledgeable lawyer is handling it. Breach of fiduciary duty claims are some of the most common types of trust litigation. The duties that a trustee has to beneficiaries of the estate include to avoid self-dealing or stealing, to responsibly manage assets in the estate to follow state probate law, to properly invest trust assets and to avoid unnecessary trust administration costs.
Any administrators who violate their fiduciary duty can be removed from their role, order to pay damages by the court or both of these. This means that it is very important that you take quick action when you find yourself in the position of believing that a trustee might have acted inappropriately. Likewise, trustees should get representation for their legal needs as soon as possible.