A critical part of creating a living trust is to choose who will be the successor trustee. A successor trustee takes over the management and administration of the trust if the trust creator becomes incapacitated or passes away. A trustee stepping in has many duties related to trust administration, including a fiduciary duty to the beneficiaries of the trust. Such beneficiaries might raise a dispute if they have issues with the manner in which the trustee is administering the trust.
Disputes might arise for any of the following reasons, among others:
- A beneficiary claims that the trustee is acting with bias toward one or more beneficiaries, adversely impacting the trust distributions to others
- The trustee is accused of acting in a self-serving manner, such as investing the trust property in their own enterprise or similar actions
- Claims that the trustee is not properly paying the bills and taxes necessary from the trust
- The trustee is not making distributions as they should according to the trust document or is unjustifiably withholding trust property
- The trustee fails to provide one or more of the beneficiaries with information regarding the trust property
Any of the above can lead to a dispute about trust administration. It is important to try to resolve the dispute as efficiently as possible to avoid litigation whenever possible.
Disputes can also arise before the successor trustee takes over. These might include whether the trust creator has the mental capacity to manage the trust, whether there was fraud involved by beneficiaries, and more.
Contact an Estate Planning and Probate Lawyer in Illinois
Attorney Charles Newland is ready to help trustees and trust beneficiaries resolve disputes relating to trust administration. If you would like to discuss concerns you have or claims against you, please contact call 847.797.9300 or contact us online for a discussion today.