Are You a Trustee Who May Be Sued or Threatened?

Trustees are responsible for overseeing an estate’s accounting and financial matters, all while dealing with family members and other beneficiaries who can criticize each decision that isn’t in their favor. Even if the estate you are administering is a simple family trust, you can still be sued by angry parties who want a greater share of wealth or assets than they are actually entitled to.

Common claims filed against trustees include:

  • Conflict of interest
  • Self-dealing
  • Intentionally causing financial harm to beneficiaries
  • Improper accounting
  • Mishandling of assets
  • Failure to deliver fair tax savings
  • Giving preference only to one beneficiary, when others are involved
  • Trust language that is confusing or unintelligible
  • Failure to give required notices to beneficiaries
  • Ignoring questions, demands or claims of beneficiaries and/or creditors

As a trustee, you have the legal duty to administer the contents of the estate with prudence, skill, care, and caution. All of your actions must also be in the best interests of the beneficiaries. If you want to avoid liability during your service as a trustee, you should:

  • Keep organized records
  • Document every transaction and distribution
  • Make sure you understand and always obey the instructions contained in the trust
  • Keep all beneficiaries well informed of matters regarding their trust

Consult with Our Legal Team Today

Are you facing a trustee lawsuit? If so, you need to get in touch with our legal professionals at P. Arnsen Blakely to discuss the details of your case. We have the knowledge of the law and extensive resources you need to protect your interests and successfully administer the estate you’re responsible for.

Call (714) 908-4230 to request your case consultation today with a member of our law firm.

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