My last post discussed the pros and cons of institutional trustees vs. family member trustees. Regardless of whom is serving as trustee, in the course of my law practice there are common themes which repeatedly arise in the area of trust disputes and litigation. Specifically, it is easy for trustees—especially inexperienced family member trustees—to make mistakes when administering [...]
Posts Tagged ‘beneficiaries’
Common Mistakes When Serving As Trustee
Posted in Breach of fiduciary duties, Duties of trustees, Improper investments, Interpretation of wills/trusts, Prudent investor rule, Rights of beneficiaries, Self-dealing, Suitability of investments, tagged Arkansas Trust Code, beneficiaries, Breach of fiduciary duties, breach of trust, conflict of interest, fiduciary, litigation, trust, trust litigation, trustee on July 26, 2011 | Leave a Comment »
Family Member Trustees vs. Institutional Trustees
Posted in Breach of fiduciary duties, Duties of trustees, Rights of beneficiaries, tagged bank, beneficiaries, beneficiary, co-trustee, estate planning, family member, impartiality, institutional, removal, settlor, successor trustee, trust, trust company, trustee on April 10, 2011 | Leave a Comment »
When a trust is formed, one of the many decisions that must be made by the “settlor” (the one who forms the trust) is who will serve as trustee. The settlor may also select multiple trustees (“co-trustees,” who serve with each other) and later (“successor”) trustees (who may serve after the original trustee can no longer serve [death, disability, etc.] [...]
Recent Articles On Alzheimer’s Disease, And Trustee/Beneficiary Relationships
Posted in Duties of trustees, Breach of fiduciary duties, In the news, Duties of executors, Rights of beneficiaries, Prudent investor rule, Interpretation of wills/trusts, Suitability of investments, tagged trustee, estate litigation, probate litigation, trust litigation, beneficiaries, executor, beneficiary, Wall Street Journal, New York Times, Alzheimer's Disease, dementia on November 6, 2010 | Leave a Comment »
There is not much to this post, primarily because the articles referenced below already thoroughly discuss the issues. Specifically, both articles shed light upon two common problem areas which can often eventually erupt into estate, trust and probate disputes. The first article is from the New York Times and addresses the effect of Alzheimer’s Disease and dementia upon an individual’s ability [...]
Avoiding Estate, Trust & Probate Litigation
Posted in Duties of trustees, Breach of fiduciary duties, In the news, Will contests, Duties of executors, Self-dealing, Rights of beneficiaries, Accounting actions, Misappropriation of assets, Interpretation of wills/trusts, tagged estate litigation, probate litigation, trust litigation, beneficiaries, estate planning, Abraham Lincoln, U.S. News, surprise, trust department, intentions, trusts, bypass, fraud, undue influence, no-contest, distribution on November 30, 2009 | Leave a Comment »
Since one of my areas of practice is estate, trust & probate litigation, it is obviously not in my economic self-interest to counsel against getting involved in this type of litigation in the first place. However, first and foremost is a lawyer’s duty to his or her client, which while sometimes involves filing or defending a [...]
Statute Of Limitations For Breach Of Trust Suits Against Trustees
Posted in Breach of fiduciary duties, Duties of trustees, Rights of beneficiaries, Statute of limitations, tagged Arkansas Trust Code, beneficiaries, breach, Breach of fiduciary duties, breach of trust, duties, fraudulent concealment, Statute of limitations, tolled, trust litigation, trustee on October 16, 2009 | Leave a Comment »
A couple of the most frequent questions in estate, trust, and probate litigation are: (from trust beneficiaries) “How long do I have to sue a trustee for breach of trust?”, and (from trustees or potential trustees) “How long must I be concerned about potentially being sued for an alleged breach of trust?” The Arkansas Trust Code (at [...]
Last Will And Testament Of Entertainer Michael Jackson
Posted in In the news, Interpretation of wills/trusts, tagged beneficiaries, michael jackson, will on October 3, 2009 | Leave a Comment »
Michael Jackson’s recent death shocked the world, notwithstanding his controversial and mysterious past. The famous singer will not soon be forgotten, however, if nothing else because of the money, property, and incredible fortune that he left behind to his heirs. Word is that he had incurred substantial debt at the time of his death, but royalties alone from his catalogue of [...]
