Managing and distributing assets of a trust can be complicated. Some trusts require grantors to appoint a corporate trustee who can manage the trust and ensure that all provisions are followed. If you are the beneficiary of a trust and you feel that the corporate trustee is not acting in the best interest of the trust, you need to speak with an experienced Alameda County corporate trustee lawyer to ensure that your rights are protected.
At Hackard Law, our trust litigation attorneys are here to help beneficiaries in need of trusted legal counsel. We advocate every day for people navigating the litigation process against unfit corporate trustees. Contact our team today to discuss your options.
A corporate trustee is a bank, trust company, or other financial institution that is appointed by the court to act on behalf of a trust. A corporate trustee is a professional who understands trust administration, investment management, and fiduciary duties. The corporate trustee is to serve as a neutral third party to provide objective management of trust assets and distribute assets according to the terms of the trust documents.
A knowledgeable corporate trustee lawyer in Alameda County could help a beneficiary review the trust to ensure that the trustee is acting in the best interests of the trust.
A corporate trustee has several duties in maintaining a trust. The trustee is responsible for managing and administering assets according to the terms of the estate, including investments, real estate, and other items held within the trust. The corporate trustee is also responsible for distributing the assets to the beneficiaries according to the terms outlined in the trust document. They have a duty to maintain accurate records of all of the assets and to prepare and file all tax documents related to the trust. The trustee must inform the beneficiaries of any changes or issues regarding the trust.
An Alameda County attorney with experience working with corporate trusts could review the trust documents to ensure that the trustee is complying with all of the responsibilities of their position.
Corporate trust litigation involves disputes over the administration of a trust where a financial institution serves as the trustee. A beneficiary may file actions against a corporate trustee for a variety of reasons. In some cases, a dispute may arise because of an alleged breach of the trustee’s fiduciary duty if an interested party believes that the trustee is not acting in the best interests of the beneficiaries.
Beneficiaries may also take legal action if the corporate trustee is not properly managing the assets of the trust or if the trustee is not distributing the assets according to the trust document. You may also need to take legal action in situations where the trustee fails to file the necessary accountings.
If you believe that a corporate trustee is not upholding their duties, a lawyer could help you petition the court in Alameda County to remove the trustee. An attorney could also answer questions regarding the necessity of litigation before the process begins.
If you are in a position where you need to challenge a corporate trustee, an Alameda County corporate trustee lawyer could advocate for you. A lawyer with experience challenging trusts could help guide you through the process and help protect your rights.
The legal team at Hackard Law has extensive experience challenging corporate trustees. We represent clients at every phase of the litigation process and are here to help hold wrongdoers accountable. Contact our experienced lawyers today to discuss your case.
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