Can You Sue a Trustee for Negligence?
Trustees are considered to be fiduciaries, so they are held to the highest legal standard. Given the duties and responsibilities that fiduciaries must satisfy, there are various grounds for filing a lawsuit against a trustee. Negligent behavior that constitutes a breach of their fiduciary duty is one of these reasons. At RMO, the most common […]
How Serious Is a Breach of Fiduciary Duty?
A fiduciary duty is one of the most demanding obligations that exists under the law. It requires a person in a position of trust and confidence, such as a trustee, executor, administrator, or personal representative to act with utmost good faith and loyalty towards the beneficiaries of the trust or probate estate they are administering. […]
Who Can Sue a Trustee?
A trustee has a legal, fiduciary duty to act prudently in managing the trust solely in the best interests of its beneficiaries. If a trustee violates this fiduciary duty, the beneficiaries can pursue legal action to remove the trustee and, in some situations, sue a trustee for their wrongdoing. Some common reasons trustees can be […]
Can Trustees Be Held Personally Liable?
Yes, trustees can be held personally liable for losses sustained by the trust if they are found to be in breach of their fiduciary duties. Trustees owe trust beneficiaries the highest legal duty possible, which is known as a fiduciary duty. This means that they must prudently manage the trust for the sole benefit of […]
How Do I Dispute a Family Trust?
Executive Summary Introduction Trusts are legal agreements in which one person (a trustee) holds property for the benefit of another (a beneficiary). A family trust is created by one or more people who want to share their wealth with their children, grandchildren, nieces, or nephews. However, there can be circumstances where a beneficiary may not […]
The Trustee’s Guide to Trust Distributions
A significant portion of your duties as a trustee consists of distributing trust assets to trust beneficiaries. When making these distributions, it’s essential that you follow the directives in the trust instrument. What is a trust distribution? A trust distribution is a payment or other distribution of trust assets made by a trustee to one […]