Four Differences Between a Trust Reformation and Modification
If there is a problem with a trust that you are an interested party to, you have several options. Trust reformations or modifications are two possibilities.
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No Need for Proving Your Claims in the Trust Litigation Petition
When filing a petition to initiate a lawsuit involving a trust, you must state your claims. You do not need to prove these claims are true at this stage.
Creditors Must Sue the Trustee, Not the Trust to Succeed
In order to bring a claim to gain access to the assets of a trust, a creditor must sue the correct party. That party is the trustee, not the trust itself.
Determining Insolvency With Fraudulent Transfers to Trusts
When assets are held in trust to avoid a creditor, it may deemed fraudulent under certain circumstances. This may include when the debtor was found insolvent.
Why Can Creditors Reach Revocable Living Trusts?
Assets held in a revocable living trust are generally not protected by creditors. There are many reasons why this is the case.
Trustee Removal for Asset Mismanagement May Be an Option
When a trustee mismanages assets or refuses to comply with trust terms, beneficiaries have several options. Consider asking the court to remove the trustee.
Who Might Be Responsible for Theft From an Estate
Theft is a common reason for trust and probate litigation. Learn more about the surprisingly large group of people may be potentially responsible.
Ask the Court for Help With Trust Provision Questions
If you have questions during a trust administration, you can involve the court. The court can assist with certain interpretations of trust provisions.