What happens if you need to file a lawsuit against a trustee who has violated the rules and responsibilities. A trust litigation lawyer in South Dakota is the legal representative and person who can assist you in this circumstance.
No one wants to end up in the midst of a trust litigation lawsuit but if you have recently learned that the trustee appointed to manage your loved one’s trust has violated the terms of the trust or is involved in illegal behavior, you need to use this information to set up a conversation with a trust litigation attorney in South Dakota. As a South Dakota trust litigation attorney can tell you, there are specific rules within the state and at the general federal level for trustees.
It’s also worth knowing that every disagreement or lack of communication in the form you’d like is not enough to bring a lawsuit against a trustee. This is why your case should be evaluated by a professional first.
When Should a Lawsuit Be Filed?
Trustees have a legal responsibility, known as a fiduciary duty, to both service the trust administration based on the terms of that trust as well as general laws. This means that trustees are prohibited from doing things known as self-dealing. Self-dealing refers to a trustee’s attempt to make investments in funds or make financial decisions with the trust that are more aligned with their personal needs and potential personal outcomes than the beneficiaries or the trust itself.
Despite that fact that this is an illegal activity, many beneficiaries are not aware of their rights and only learn about it after the fact when the trustee needs to be removed from his or her position. It is against the law and the fiduciary duty of the trustee to violate these terms but unfortunately, it can and does happen. One of the hardest parts of this situation is to make sure that you have the right evidence to bring a claim against a trustee. It is a serious smatter to allege that someone has violated the law in this way, especially if you are accusing them of embezzling or otherwise misappropriating trust funds. If you have evidence that this has already occurred or if you have had an extremely difficult time communicating with the trustee, this information can be brought to the office of a trust litigation lawyer in your area to discuss more specifics.
An area trust litigation lawyer may be able to file a lawsuit on your behalf which is your best attempt to recover compensation that the trustee might have drained out of the trust. A trust litigation attorney should be a person who has appropriate experience in this area of the law and has pursued lawsuits against trustees in the past. It can be overwhelming to sort through these details on your own and you may not be familiar with state or federal laws that could influence your ability to file a suit. One of the best things you can do is to educate yourself about trust litigation lawsuits and then set aside a time to speak with a dedicated trust litigation attorney.
What To Do When You Believe Breach of Fiduciary Duty Has Happened?
If you believe a breach of fiduciary duty has already occurred, share these details and any evidence you have with an experienced legal representative. You are not obligated to file a suit from that point but rather you can use this as a learning opportunity to identify whether or not your case meets the appropriate grounds.