Trust Administration & Litigation

Valencia Trust Administration & Litigation Lawyers

Fighting for Your Best Interests in Valencia, Santa Clarita Valley & Los Angeles, Valencia & Orange Counties

Trust administration requires a comprehensive understanding of legal obligations, responsibilities, and potential challenges that may arise in managing a trust. If you have been named a trustee by the grantor of a trust or are acting as the trustee of your own living trust, you must oversee and execute its terms in good faith. Trusts are legally binding documents.

At Jackman Law, P.C., our legal team can help trust administrators in fulfilling their duties under trust terms and conditions. Should issues or disputes arise in such administration, we can provide experienced litigation skills to help you resolve them quickly and efficiently. This can be achieved through negotiation, alternative dispute resolution methods, or by trial in civil court.

Reserve your appointment with a Valencia trust administration and litigation attorney for a complimentary consultation. Call (661) 990-9651 or reach a team member at Jackman Law, P.C. via our online contact form.

What Is Trust Administration in Valencia?

Trust administration involves managing and executing a trust according to the terms outlined in the trust document. This can include managing the trust and distributing its assets upon the grantor’s passing.

California trustees have several key responsibilities in trust administration, including managing the trust in the best interests of the beneficiaries.

General duties include:

Fiduciary duty: Trustees must act in the best interests of the beneficiaries, exercising care, loyalty, and impartiality.
Asset management: Trustees are responsible for managing and protecting the trust assets, which includes making prudent investment decisions and maintaining accurate records.
Distribution of assets: Trustees must distribute the trust assets to the beneficiaries as specified in the trust document.
Record keeping: Trustees must keep detailed records of all transactions, including income, expenses, and distributions, and provide regular accounting to the beneficiaries.
Communication: Trustees must inform beneficiaries about the trust's status and any significant actions taken.
Tax filings: Trustees must handle any necessary tax filings for the trust, ensuring compliance with state and federal tax laws.
Following trust terms: Trustees must adhere strictly to the terms outlined in the trust document; all actions must align with the grantor's intentions.

These responsibilities require trustees to be diligent, transparent, and fair in administering the trust and prioritizing the beneficiaries' interests.

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Fiduciary Duty in Trust Administration

Fiduciary duty is a fundamental obligation that trustees owe to the beneficiaries of a trust. This duty requires trustees to act with the highest standard of care and loyalty, prioritizing the interests of the beneficiaries above their own.

Trustees must make informed and careful decisions to preserve and grow the trust’s value. They must treat beneficiaries fairly and impartially, balancing their interests according to the trust terms. They must keep beneficiaries reasonably informed about the trust administration and provide regular accountings of its financial activities.

Trustees can be liable for breaching their fiduciary duty if they fail to adhere to these responsibilities. They may be required to restore any losses to the trust or return profits from improper actions. Courts may remove trustees from their positions, and trustees may face legal penalties for wrongful actions, including fines or other sanctions.

Trust Administration Disputes & Litigation

Several types of disputes can arise in trust administration that may require litigation. These disputes often involve disagreements between trustees, beneficiaries, and sometimes third parties, such as creditors.

These disputes can include:

Breach of fiduciary duty: Beneficiaries may allege that the trustee has failed to act in their best interests, mismanaged trust assets, or engaged in self-dealing.
Interpretation of trust terms: Disagreements can occur over the meaning or intent of specific provisions in the trust document, leading to disputes between beneficiaries or between trustees and beneficiaries.
Distribution disputes: Conflicts may arise over how and when trust assets should be distributed, especially if beneficiaries believe the trustee is not following the trust's terms.
Accounting disputes: Beneficiaries may challenge the accuracy or completeness of the trustee's accounting, suspecting mismanagement or fraud.
Removal of trustee: Beneficiaries might seek to remove a trustee due to alleged misconduct, incompetence, or conflict of interest.
Trust modification or termination: Disputes can occur over whether a trust should be modified or terminated, often involving disagreements among beneficiaries or between beneficiaries and the trustee.
Creditor claims: Creditors may assert claims against the trust, leading to disputes over the validity or priority of these claims.

Litigation in trust disputes can be complex and emotionally charged, often requiring legal intervention to interpret the trust document, assess fiduciary conduct, and pursue a fair resolution under the law.

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Resolving Trust Disputes

Resolving disputes outside of court is often preferable to avoid costly and prolonged litigation.

Non-litigation methods include:

Mediation: A neutral mediator facilitates discussion and negotiation between parties to reach a mutually agreeable solution.
Arbitration: An arbitrator makes a binding decision, which can be faster and less formal than court proceedings.
Settlement negotiations: Direct discussions between parties, often with the assistance of legal counsel, can be taken to settle disputes amicably.

At Jackman Law, P.C., our litigators will seek to resolve your trust dispute as efficiently as possible to save you the time, money, and stress of a civil trial. However, when needed, we can vigorously represent you in court. Our mission is to protect your interests under trust terms.

Call (661) 990-9651 or email us on our online contact form to discuss your case with a Valencia trust administration and litigation attorney.

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