For trustees who are serving alongside others during a trust administration, co-trustees must be aware of certain, unique duties. In addition to the standard duties of a trustee of a trust, co-trustees must take reasonable steps if they suspect a co-trustee of breaching the trust. In addition, the trustee must compel their co-trustee to resolve any such breaches of trust. What should you do if you find yourself in this type of situation?
Consider taking the following actions if you suspect a co-trustee of breaching the trust:
- Contact an experienced Anaheim trust attorney. Actions that you take or refrain from taking as a co-trustee could affect your own personal liability and should not be taken lightly.
- Obtain a copy of the trust instrument and all amendments.
- Gather supporting documentation that demonstrates the breach of trust.
- Obtain any supporting documentation that shows your attempt to resolve the breach of trust.
- Meet with your attorney to discuss whether legal action is necessary.
For trustees implementing a trust in Anaheim, it is vital to seek guidance from a knowledgeable legal professional in order to protect the trust assets and the trustee’s own personal liability. To learn more about the implementing of a trust plan and serving as a co-trustee, view our free guide, Understanding the Revocable Living Trust – In Language that Anyone Can Understand in 8 Minutes. The experienced Anaheim trust lawyers at the Law Office of James F. Roberts & Associates, APC, are pleased to offer you a consultation. Call our office today at (714) 459-5481.