There are provisions in the law to determine how beneficiaries should share the assets of the deceased. One essential condition is to use legal instruments to transfer assets from the trustor to the heirs. These documents have to be legally enforceable, and those who apply the recommendations must act in accordance with the law in order to minimize legal risks. Parties with information that the documents’ creation, revision, or administration does not follow the law can file a court case and seek an injunction against its implementation. This article highlights some issues litigants can raise and how a legal advisor can help them resolve the disputes.
Illegalities Affecting the Estate
Some third parties illegally damage or acquire trust property, exposing trustees to legal claims of breach of their fiduciary duties. When this happens, they can take the responsible parties to court to recover the property so that beneficiaries are given their due share of the estate. They can also move to stop creditors from illegally claiming inherited assets. This process requires legal representation to navigate the complicated trust laws and avoid making mistakes. Therefore, understanding a trustee’s responsibilities can help protect heirs’ rights and interests. Since attorneys understand the law, they can offer reliable advice to safeguard those interests.
Accounting and Financial Errors
Trustees must provide beneficiaries with the necessary information on the estate and inheritance. Unfortunately, some conceal financial records to avoid scrutiny or misappropriate trust funds, believing that the beneficiary will not ask for an audit of transactions. Besides, some trustees award assets to the wrong beneficiaries, leading to some getting more or less than they deserve. The liabilities or debts of the trust may also be more than its assets, meaning the trustee may become incapable of achieving the trust’s objectives. In such circumstances, recourse to law may be necessary to determine how to fulfill the trust’s duties. It can also help address beneficiary-related issues that make the Trust hard to implement. However, this legal process might be challenging to navigate, so the parties involved need to seek legal advice and help.
Breach of Duty
The law provides direction on how trustees should manage deceased assets and ensure that they fulfill the deceased wishes. It is unlawful to go against the guidelines or to fail to act in the best interest of the beneficiaries, and these issues may lead to legal consequences. Beneficiaries can file a case against trustees who fail to produce copies of the Trust. Additionally, they can sue them if they carry out activities in their selfish interest or financial gains, such as selling trust property at throwaway prices. They can also file court cases if a trustee use delay tactics to postpone the inheritance process. In these cases, a legal advisor can investigate and gather evidence proving a breach of duty.
Documentation Errors
Beneficiaries who suspect that the creation of a Trust did not meet the legal requirements or that someone altered it to benefit from the estate illegally may have a genuine legal case. Besides, they can file court cases when conflicts over who should inherit what arises or when spouses, children, or unmarried couples feel the inheritance process violates their rights. Lawyers can represent them in court to ensure that inheritance rights are upheld according to the law and the deceased’s wishes.
The law gives beneficiaries and trustees the right to contest trust terms. Therefore, those with evidence of non-compliance with the law when creating the trust or engaging in malpractice to illegally benefit from the estate can bring the matter to court for determination. Lawyers dealing with litigation can advise and represent them to ensure they get justice.
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