A ‘trust’ is a legal device used to pass property to someone (a ‘trustee’) who manages that property on behalf of others (‘beneficiaries’).
There are lots of reasons why someone might settle a trust – tax advantages, to provide for disabled persons, as part of a business plan or marriage contract, and so on.
The most common types of litigation issues that arise include:
- Interpretation questions as to how the trust settlement should be understood.
- Complaints against trustees for improper spending or improper compensation out of trust funds.
- Complaints against trustees for poor performance or unwillingness to share information.
- Collapsing a trust (by all beneficiaries who are each of the age of majority) or a variation of a trust (where one or more beneficiaries are minors, unborn, or ‘unascertained’).
- Charitable trust issues.
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