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Trust litigation becomes necessary when disputes arise during the trust administration process, or any time there is an issue with a trustee or beneficiary's actions. A trust is a legal document that governs how an individual's estate is to be handled and distributed during their life and after their death.
Probate is not a quick or easy area of the law; however, we can guide you through the process as quickly and with as little stress as possible. Set up your initial consultation today by contacting our offices or by using the online form below.
It is the process by which the successor trustee carries out the instructions left in the trust for the distribution of the assets to the beneficiaries. In some trusts, the trustee has a degree of leeway over how to invest and distribute the assets in the trust.
First, you must select the trustee and beneficiaries, and obtain the consent of the former. Second, you must create the trust document, which will give the instructions for distributing the assets in the trust.
Either way, the trustee has a variety of important duties: 1 The duty to carry out the settlor’s instructions. 2 The duty to pay off any debts or taxes that the trust owes. 3 The duty to invest the assets responsibly, if there are any assets the trustee is permitted to invest. 4 The duty to make appropriate decisions about the distribution of the assets, if the trustee is afforded any flexibility in this regard. 5 The duty to keep records of their actions in administering the trust.
The benefits of a revocable trust are obvious: the settler can correct earlier mistakes and respond to changing circumstances. As everyone knows, financial and family circumstances can change very rapidly, and there are a variety of reasons why you may eventually need to amend or revoke your trust .
In a trust, the estate planner, known as the settlor or grantor, places their assets under the control of a trustee, who holds these assets on behalf of a beneficiary. It is important to remember that trusts are essentially tripartite ...
The reason why some people choose to create irrevocable trusts is that have a couple of major advantages over revocable trusts. For one, the assets in an irrevocable trust, unlike those in a revocable trust, are no longer vulnerable to debt collection or to lawsuits against the settlor.
There are two major types of trust: revocable and irrevocable . Revocable trusts are also known as living trusts, or, if you want to get fancy, inter vivos (“between the living”) trusts. In a revocable trust, the terms of the trust can be modified by the settlor at any time.
Will and trust contests occur for many reasons and involve all types of clients. From individual beneficiaries and heirs, to national charities, universities and other entities, our attorneys have a long and successful record on all sides of litigation.
Apart from contesting the validity of a will or trust, we regularly handle disputes concerning the action or inaction of a trustee or executor. These legally appointed persons are charged with administering a trust or an estate and carrying out all the required duties according to the law.
Every client is entitled to a free consultation. The initial call is free and if an in-office meeting is scheduled, that too is free of charge. This is your opportunity to decide if you wish to hire us. We are confident you will.