Anticipate Common Problems Between Trustees and Beneficiaries

You may already know the person who is serving as trustee of your loved one’s trust. Presumably, the trustee was someone that your loved one trusted and knew well. However, that does not mean you trust the person responsible for overseeing the funds in the trust.

Sometimes, issues can arise between trustees and trust beneficiaries. If you are involved in a trust, it is important to anticipate these problems, so you can recognize and work through them as quickly and easily as possible.

Four Problems That Could Arise

The person who created the trust had the best of intentions. However, once he dies and the successor trustee begins his work, the following problems could arise:

  • A dispute over control. A beneficiary, for example, may want more say in how the trust property is invested, and the trustee may resist that involvement and continue to administer the trust without taking into account the beneficiary’s opinion.
  • A difference of opinion about the investment or management of trust assets. The beneficiary may disagree with how the trustee is doing his job.
  • A difference of opinion about the distribution of trust funds. The beneficiary may disagree with how or when the trustee is distributing the trust money.
  • Questionable trustee fees may be billed and paid. The beneficiary may be concerned about the bills or fees that the trustee is accruing.

Additionally, other problems can arise that are more specific to the trust property or to the parties involved.

Don’t Let Problems Get in the Way

Whether you are the trustee or a trust beneficiary, you likely don’t want a problem to derail the purpose of the trust. Accordingly, it is important to take action as soon as a problem arises. You can do that by requesting a face-to-face meeting with the other parties involved in the trust; by seeking court involvement in the administration of the trust; or by consulting with an estate planning lawyer who can help you with the implementation of the trust.

Whatever you decide to do, it is important to take action and make sure your rights and the purpose of the trust are protected. The Law Office of James F. Roberts and Associates may be able to help. Call us at 714 459-5481.