Estates and trusts often involve many different parties with conflicting interests. When disputes arise, a resolution may be reached by negotiations and settlement. Other situations may require litigation.
Common Estate and Trust Disputes
Estate and trust disputes can arise in a variety of circumstances. Any of the following cases may involve disputes that can be resolved by an estate and trust disputes attorney.
Breach of Fiduciary Duty and Self-Dealing
Fiduciaries—such as executors and trustees—are given significant power over the property they manage. They are also held to high legal standards because they are expected to place the interests of their beneficiaries above their own interests.
Sometimes fiduciaries breach these duties. They may use trust or estate property for their own benefit. They may also commit negligence when fulfilling their duties, causing the beneficiaries to suffer damages.
Disputes Between Beneficiaries
Estate and trust beneficiaries may have adverse interests that need to be reconciled. A will contest may occur when one beneficiary is disinherited or receives much less than other beneficiaries of a similar class.
Trust disputes can also arise between beneficiaries. For example, a remainder beneficiary may become concerned if a life estate beneficiary is damaging the trust property.
Vague or Unclear Will or Trust Terms
A vague or unclear term in a will or trust may lead to administration problems. The interpretation or a single word or phrase could have a monumental impact on the amount of property a beneficiary receives.
Find Out Where You Stand
You may not realize what your rights are under a will or trust. If you think a fiduciary is acting improperly or have an issue that needs resolving, you should contact a trusts and estate attorney to discuss your case.
Your attorney can explain important legal issues to you, such as:
- What the obligations of a fiduciary are
- Reasons that a will may be contested
- What rights a trust beneficiary has
- How to proceed with your estate or trust dispute claim
You may have a limited time to file a lawsuit to assert your rights. Contact a trust and estates attorney right away to find out if you may have a potential trust and estates dispute case.
King Law Offices is a full-service law firm with an outstanding team of professionals who work diligently, creatively, and compassionately on behalf of our clients each day. We serve the Upstate of South Carolina and Western North Carolina. Call 888-748-KING (5464) today to set up a consultation with one of our dedicated estate planning attorneys.