Trusts are helpful tools to financially plan and secure a future for your loved ones. Among other purposes, they can hold assets for management by investment professionals, provide an income stream to designated beneficiaries, protect assets from spendthrift beneficiaries and creditors, provide an opportunity to transfer assets without the disclosures that probating an estate might require, and direct those assets into the right hands long after the original asset owner’s death. Trust litigation is typically called for in situations where the trustee has breached their fiduciary duties in their dealings with the beneficiaries or the administration of the trust.
The attorneys at Gaslowitz Frankel LLC have been the leading experts in estate and trust litigation for the state of Georgia for over three decades. “We’ve seen many families approach us with trust disputes, wondering if their unique situation calls for litigation,” says attorney Craig Frankel.
In our experience, these are some common reasons why you might seek an attorney in a trust dispute.
Related Article: Trust Litigation: What is It?
Common Reasons to Pursue Trust Litigation
Breach of Fiduciary Duty
A trust is only as strong as its trustee. If a trustee fails to fulfill their fiduciary duties by mismanaging trust assets, failing to follow the directives of the trust with respect to disbursements to beneficiaries, fails to properly manages trust assets, or acts in their own self-interest, trust litigation may be initiated to hold the trustee accountable.
Disputes Between Beneficiaries
Often, beneficiaries who are also co-trustee may disagree about the assets in the trust and how to handle them. Parties often have their own interpretations and motivations in relation to a trust. Litigation may be needed to clarify the duties and responsibilities required under the trust documents.
Execution Errors
Trusts are sometimes drafted poorly, leading to trusts that have language which is vague or difficult to interpret. Another difficulty of trusts is that they sometimes come with stipulations that are impossible to fulfill. Since trusts are purposely difficult to alter, litigation is often needed to try to modify the trust to implement the trust intent of its creator, or to implement changes that are agreed to by all beneficiaries and do not alter a material purpose of the trust.
Trust Validity
If there are concerns about the creation or validity of a trust, such as allegations of undue influence, lack of capacity, or fraud upon the person who created the trust, interested parties may file a lawsuit to challenge the trust’s validity.
Finding the Best Trust Litigation Attorney
Having a trust attorney that can guide you through trust litigation can help you make the best decisions for you and your family. The attorneys at Gaslowitz Frankel LLC have decades of experience with trust and estate litigation, and proven results with even the toughest of cases. Our attorney’s expertise and compassion treat every case with the diligence and attention it deserves.
