Many Torrance area residents have taken the time to create a trust for their estate. A trust is a way to transfer assets to another person and many use it to avoid probate. But sometimes there are problems that arise with a trust among the beneficiaries.
A trust dispute can be common among its beneficiaries. There are several common reasons for a trust dispute to occur. The most common trust dispute is that the money in the trust is being mismanaged by the trustee. The trustee may not have properly invested the money or administered the money correctly to beneficiaries. Or a trustee may not have provided correct accounts of assets and property or not followed the instructions that were provided for the trust.
Another reason for a trust dispute is the claim of undue influence. A beneficiary may claim that the trustor was taken advantage of by another person for the other person's benefit. Typically, the other person gains something financially by pressuring the trustor. Finally, a trust dispute can occur if it is believed the trustor was not of sound mind or body, that they did not have the mental capacity to create the trust. The trustor may have had an Alzheimer's diagnosis, dementia diagnosis or some other medical issue that a beneficiary may claim had an influence on the trust's creation.
A trust dispute can often be complicated. An attorney who specializes in estate litigation can help a family that is facing trust dispute issues. They can start by unpacking the disagreements and come up with solutions for the disagreements. Whether it means removing the trustee or using alternative dispute resolution to work through the differences, there are many ways to make sure everyone's concerns are heard and addressed.
A trust is a wonderful way for a person to pass their assets to the people that mean the most to them. When there is a dispute over a trust it is best to have a professional help the family work through their disagreements.