Being a trustee can sometimes feel like walking a tightrope—you’re balancing responsibilities while everyone’s watching. If you’re facing trust litigation, the pressure can be intense. But don’t panic. Knowing your fiduciary duties and keeping detailed records can be your safety net when things get tough.
Fiduciary Duties Of Trustees
As a trustee, your job is to manage assets wisely, stick to the trust’s terms, and keep beneficiaries in the loop with regular accounting. If you drop the ball on any of these duties, you might find yourself on the receiving end of a legal claim. Beneficiaries could petition for your removal or even demand compensation if they feel you’ve failed to protect the trust’s assets.
Responding To Allegations Of Mismanagement
If you’re hit with accusations of mismanaging assets, the best defense is transparency. Keeping accurate financial records and showing that your decisions were made in good faith can be the key to clearing your name. Of course, having an attorney by your side to present your case in court is essential to ensuring the court sees the whole picture.
Time Limits For Filing A Trust Dispute
Typically, beneficiaries and trustees have just one year from the trustor’s death to file a lawsuit. But, like most things in life, there are exceptions. If fraud or hidden assets pop up later, the clock might restart, giving you more time. The catch? You’ll need a sharp attorney early on to determine exactly how long you have.
If you miss that deadline, the door slams shut. Your claim could be dismissed, leaving you without a way to recover your inheritance or defend yourself against accusations. That’s why taking action quickly is critical. Speaking of action, here’s how San Diego trust litigation attorneys can help with disputes.
San Diego Probate Attorneys
12626 High Bluff Dr Suite 440,
San Diego, CA 92130
(858) 333-8844
