What if the Trust you are set to benefit from is the subject of Trust Mismanagement?
First of all, if you suspect the trustee of trust mismanagement of assets or property, which caused a significant loss of value, the first thing you’ll want to do is determine how the estate was mismanaged.
Also, ask yourself: Did the trustee allow property to fall into disrepair or sell it for under-market value? Is the trustee favoring one beneficiary over others? Furthermore, has the trustee’s refusal to take on a financial advisor led to incredibly shortsighted investment decisions? Is the trustee embezzling funds from the trust? Lastly, are they seeing profit from the trust that he or she hasn’t been reporting to the beneficiaries?
Additionally, some situations may simply call for you to politely ask the trustee to step down from the position. Others may require legal action and possible criminal charges. A key factor in determining the severity of the case is how much capital was lost to trust mismanagement.
Furthermore, gather whatever evidence you can without alerting the trustee to your suspicions. Because of the expense and complexity of trust litigation, it is in your best interest to have a preliminary consultation with an attorney versed in estate law before confronting the trustee or bringing the matter to the attention of any of the other beneficiaries.
Litigation is the act or process of bringing a lawsuit to enforce a particular right. This can include Will contests, Trust Litigations, and Probate Litigation.
A person who benefits from a trust, will, or life insurance policy. This includes heir, heiress, inheritor, legatee; recipient, receiver, payee, donee, assignee; devisee, grantee.
If you are ready to start your case, then please give us a call or fill out our Get Help Now form. A comprehensive overview of California Probate is available here. Should you have additional questions about trust litigation, you will find plenty of useful information in our Learning Center.