Administering a trust involves many costs, including attorney’s fees and trustee fees. Consequently, if litigation is necessary, these costs will increase. As a result, there is a decrease of assets in the trust. Therefore, beneficiaries and trustees should be aware of the costs of California trust litigation associated with the process.
Examples of the costs of California trust litigation
- Costs of maintaining real estate, such as insurance, utilities, and general upkeep
- Fees charged by financial institutions holding trust funds
- Court fees for filing a lawsuit
- Fees charged by the trust’s accountant for preparing and filing tax returns
- Fees charged by financial advisors, if necessary
- Attorney’s fees for the costs of administering the estate and engaging in litigation. This includes preparation of court filings, gathering evidence, and engaging with beneficiaries
These costs can add up very quickly, creating a significant loss to the beneficiaries. Therefore it is crucial that you consult with an experienced Riverside trust attorney to assist you in weighing the risks and benefits of pursuing a legal action. For example, if the trustee of the trust is breaching a duty, it may be important to file a lawsuit despite the associated costs.
If litigation is necessary, time is of the essence. There could be time limitations on your ability to file a lawsuit. Delaying the lawsuit could also increase the costs because it will take longer for the trust to be administered. Contact an experienced Riverside trust litigation attorney today at (888) 443-6590 for a free consultation.
AttorneyThe Grossman Law Firm, APC · 525 B Street, Suite 1500, San Diego, CA 92101 · (951) 523-8307