Trusted Counsel And Legal Representation For Your Complex Legal Issues

Settling Trust Disputes In New York

When a trust is created, whether it is while the creator is alive or after their death, the trustee has a great deal of responsibility to carry out their instructions for distributing assets to beneficiaries. With usually a great deal of assets on the line, disputes can often arise when a beneficiary feels they are not receiving fair treatment.

Settling a trust contest can be quite complex, requiring informed, experienced legal advice from an attorney like me, who has more than 40 years of litigation experience. My law firm, David I. Grauer, Attorney at Law, in White Plains, New York, serves beneficiaries and trustees throughout the New York City metro area who need the services of an experienced estate law attorney.

Getting To The Bottom Of The Dispute And Resolving It Effectively

Unlike will contests, trust disputes amongst trustees and beneficiaries involve much more accounting work. I have experience working with all types of complex trusts that people create to shield their families from probate and excessive estate tax burdens.

As your lawyer, I can work with forensic accountants and other experts to examine all of the trust’s transactions to determine if any improprieties exist, such as:

  • Improper management of the trust
  • Not following the trustor’s wishes
  • Accounting irregularities
  • Breach of fiduciary duty
  • Skimming money from the trust

Similar to will contests, however, many of these disputes involve close family members. I understand that preserving these relationships whenever possible is a paramount concern. That is why I will look to bring the sides together to work out a strong compromise that protects everyone’s financial interests. If that is not possible, I will not hesitate to take your case to court.

FAQ: New York Trust Disputes

It is natural to have many questions and concerns when facing a trust dispute in New York. The answers to these common questions can help you find clarity.

What are the common causes of trust disputes?

Miscommunications or misunderstandings between trustees and beneficiaries are a primary cause of trust disputes. Breach of fiduciary duty, where trustees fail to act in the beneficiaries’ best interests, can also lead to disputes. Additionally, disagreements among beneficiaries, lack of transparency in trust activities and ambiguities in trust documents contribute to conflicts.

What are the roles and responsibilities of a trustee?

Trustees have critical duties they must complete when managing a trust. Chief among their roles and responsibilities are:

  • Fiduciary duty: To act in the best interests of the beneficiaries with loyalty and impartiality
  • Administration: To manage the trust according to its specified terms and applicable New York laws
  • Investment: To prudently and wisely invest trust assets as appropriate
  • Record-keeping: To maintain accurate records of all transactions and decisions
  • Communication: To provide regular updates and information to beneficiaries

When they fail in these responsibilities, harmed beneficiaries can seek a legal solution.

What are the rights of beneficiaries in a trust dispute?

When a dispute arises, trust beneficiaries often have concerns about their rights. Fortunately, they have several amid a trust dispute, including:

  • Information access: The right to be informed about the trust’s management and status
  • Fair treatment: The right to fair and impartial treatment by the trustee
  • Legal recourse: The right to challenge trustee decisions in court if there is a perceived breach of duty
  • Trust accounting: The right to request an accounting of the trust’s assets and management

Exercising these rights can help to ensure trust beneficiaries are treated fairly and transparently in a dispute.

How are trust disputes typically resolved?

These disputes can be resolved through various methods. Here are some examples:

  • Negotiation: Direct agreement between parties involved
  • Mediation: Involvement of a neutral third party to facilitate resolution
  • Arbitration: Binding decisions made by an arbitrator
  • Litigation: Court proceedings and a judge or jury decision
  • Settlement: Resolving the dispute out of court to avoid lengthy litigation

Choosing the right resolution method depends on the nature of the dispute and the preferences of the parties involved. I can provide the guidance that involved parties need to facilitate a fair and appropriate resolution.

Call For A Phone Consultation About Your Trust Dispute

To learn more about how I can help, contact my law firm online or by calling 914-269-2419 to schedule a phone consultation.