The trustee of a trust has a fiduciary duty to act in the best interests of the estate and beneficiaries. As a result, the trust cannot intentionally harm the estate or the beneficiaries. Clearly, if the trustee is stealing from the estate, he or she is breaching fiduciary duty.
Articles about Protecting Trust Assets
Generally, from a beneficiary’s perspective, the difference between trust litigation and financial elder abuse litigation is when the money or property was wrongfully taken.
If a trustee has mismanaged assets or property, which caused a significant loss of value, the first thing you want to do is determine how the estate was mismanaged.
I suspect that the trustee of a California trust is engaged in wrongdoing-More about requesting a bond
If you have reason to suspect that the trustee of a trust in San Diego is engaged in wrongdoing and you have an interest in the trust property, requesting a bond can provide some protection. A beneficiary can petition the Court to order the Trustee produce a bond. The bond serves as a safeguard. If the trustee engages in wrongdoing, the bonding company will pay the costs.
If a disabled person is about to receive a substantial inheritance, these assets can be lost if proper action is not taken. Receiving financial inheritances can result in a disabled person’s disqualification from receiving certain benefits, such as social security or Medi-Cal.
If you are the beneficiary of a trust in California and suspect that the trustee has engaged in wrongdoing, you may decide to pursue legal action.
I suspect the trustee of a California trust is abusing trust funds. Which option should I pursue for protection?
Understanding what the right step is when you suspect trustee wrongdoing requires the guidance of an experienced San Diego probate court attorney. Trust litigation often can take several months, even years. When you are concerned that trust assets are being abused, it is therefore vital that you act quickly.
Wondering if you have grounds to pursue a lawsuit against a San Diego trustee for distributing your inheritance to the wrong party? View here for more.