A trustee, whether incoming or outgoing, needs to be aware of and carefully consider his or her potential liability in administering the trust. At Tran Sood Law Firm, APLC, we guide trustees through compliance with the laws and trust agreements, while maintaining effective communications with beneficiaries to avoid misunderstandings, and thus litigation.
A trustee must manage both money and people. At times, managing beneficiaries’ expectations and emotions will prove to be more challenging than performing trustee’s duties required under the law or trust. A trustee will encounter less conflict and be more effective if, right from beginning, the trustee has cordial dealings with the beneficiaries and can gain their trusts and supports.
During the administration of a trust, disputes and disagreements typically occur when a beneficiary disagrees with the trustee’s actions or inactions or when there is disagreement and impasse among co-trustees. These conflicts, if not properly managed, can fester into protracted litigation. With Tran Sood Law Firm’s guidance, the many challenges and conflicts can be amicably resolved without court involvement or litigation.
Contact us for a consultation if any of the following applies:
- Beneficiary accuses you of selling assets below market value.
- Beneficiary claims a trust or amendment is not valid.
- Beneficiaries dispute with each other over distributions or assets.
- Beneficiary accuses you of favoritism.
- Beneficiary accuses you of not providing sufficient information.
- Beneficiary accuses you of excessive compensation.
- Beneficiary accuses you of paying excessive attorney’s fees.
- Beneficiary accuses you of misusing trust assets.
- Beneficiary wants to replace you as a trustee.
- Beneficiary accuses you of unduly influencing the settlor to name you as trustee.
- You and co-trustee cannot agree in the management of the trust.