The Trustee's Guide to Breach of Trust Claims скачать в хорошем качестве

The Trustee's Guide to Breach of Trust Claims

Trustees commonly face claims for breach of trust, misappropriation of trust funds, mismanagement, malfeasance, fraud, or breach of fiduciary duty. If you’ve been accused of breaching your fiduciary duties or misappropriating trust funds, contact an experienced trust litigation attorney as soon as possible. The sooner you begin working with a trust litigation attorney, the better your odds of protecting yourself. Here’s a quick guide. FULL ARTICLE: https://rmolawyers.com/breach-of-trus... What is breach of trust? Breach of trust refers to any type of intentional or negligent, self-serving, erroneous, or retaliatory conduct committed by the trustee of a trust, resulting in harm to trust assets or beneficiaries. Misappropriation is a broad term encompassing many different types of offenses, both intentional and unintentional. Trustees have many duties under the law, and failing to live up to any of them may provide grounds for a beneficiary to file a lawsuit against you. What is an example of breach of trust? A common example of trustee negligence is that of a trustee who fails to make distributions beneficiaries. Or perhaps you failed to properly invest trust assets, protect assets from loss, insure trust assets, or following the trust terms. Maybe you failed to take appropriate legal or financial action when trust assets were threatened by a lawsuit. In all these cases, you could have exposure to being removed and/or being surcharged for any loss. What are a trustee’s duties and responsibilities? A trustee’s duty is to act in the best interest of the trust and its beneficiaries. A trustee is a person nominated by a trust document to manage assets owned by another person or their estate according to the trust terms and the law. Per Probate Code 16000: “On acceptance of the trust, the trustee has a duty to administer the trust according to the trust instrument and, except to the extent the trust instrument provides otherwise, according to this division.” Here’s a simplified list of the trustee’s basic duties and responsibilities: Administer the trust as stated Act in the best interest of the trust and its beneficiaries Treat all beneficiaries fairly and impartially The trustee may not use the trust for the trustee’s own profit Keep trust property separate from other property Take reasonable steps to enforce claims that are part of the trust property Take reasonable steps to defend actions that may result in a loss to the trust What if I’m accused of breach of trust? Contact a trust litigation attorney the moment you’re accused of breach of trust or misappropriation of trust funds. Generally, the consultation with the trust attorney is free. We protect trustees every day, and assure you it’s common for well-intentioned trusteed to be accused of misappropriation of trust funds or breach of fiduciary duty — especially when the value of the trust or estate is significant or there is family disharmony. Is there a statute of limitations on breach of trust? While the statute of limitations for contesting a trust is 120 days after the death of the trustor (person who created the trust), the statute of limitations for breach of trust, misappropriation, malfeasance or breach of fiduciary duty can be years — depending on your state and circumstances. Contact an experienced trust litigation attorney to find out. When should I contact a trust litigation attorney? The simple answer is that you should contact a trust litigation attorney the moment you suspect a claim may be filed against you. In any case, realize that you have nothing to lose by getting a free consultation. At RMO, as with any other reputable trust litigation firm, our initial consultation is free, because we want to hear all the facts of your specific case. Have questions? At RMO, we protect people like you everyday. Learn more at: https://rmolawyers.com/services/trust... Call (424) 320-9444 or email hello@rmolawyers.com Connect With RMO Lawyers:   / rmo-rahn-muntz-o'grady-llp     / rmolawyers     / probateandtrustlitigators   About RMO Lawyers: RMO LLP serves clients throughout California and Texas, with offices in Los Angeles, Orange County, San Diego, Fresno, Pasadena, the Bay Area, Dallas, and Houston. We are laser-focused on guiding our trustee, executor, beneficiary, heir, conservator, and guardian clients through some of the most complex and emotionally charged issues life can throw them. Our commitment to helping our clients achieve results that not only add to their bottom line but to their peace of mind is at the core of everything we do. That’s RMO.