What is Trust Litigation?
Trust litigation, generally, is a lawsuit that is filed due to a dispute regarding a trust. More specifically, it is a civil lawsuit filed in Probate Court that includes a significant issue involving a trust or a trustee’s behavior.
Top Five causes of trust litigation
· Breach of Fiduciary Duty
· Disputed Trust Accountings
· Trustee Removal
· Disputes between Co-trustees
· Petitions for Instructions
These top five causes (like all of the rest) can all be avoided by selecting and getting the right advice and guidance when you create trust as well as when it comes time to administer the trust. For joint trusts that are common to married couples, this will generally be on the death of the FIRST spouse. For individuals, it is following the death of the trust creator. Regardless with the right advice and timely assistance all of this can be avoided.