Trust Disputes
Trust disputes
A trust is a form of property ownership designed to benefit others (the Beneficiaries). It is the Trustee’s job to manage the trust.
There are many different types of trusts, for example family discretionary trusts are very common. Normally they are created by a signed deed, but not always. Sometimes they can be implied purely based on the particular scenario, despite there being no deed or Trustee.
Common causes of trust disputes
Often disputes are between Trustees and Beneficiaries, but not always.
Regardless of the type of trust, the trust disputes can arise in situations including where:
What to do if a trust dispute arises?
The solution will depend on the type of dispute.
Many disputes can and should be resolved through negotiation, without the need for court action.
Of course, there are times when court action is required, particularly if the trust assets are in danger or the person’s interests are at risk. This type of action can include seeking to have a trustee replaced, seeking directions from the court as to what the trustee should be doing, seek a declaration as to the existence of the trust itself, amongst many other things.
One thing is for certain is that, if you believe there is a dispute relating to a trust, you should get legal advice as soon as possible. It is not uncommon for people to approach us with concerns about (eg) a family trust which are legitimate, but which it’s far too late to do anything because they sat on it for too long.
The sooner you get advice, the more likely you’re interests will not be prejudiced.
We can offer a range of fee options depending on your circumstances, including deferred and sometimes ‘no win no fee’ type arrangements. Feel free to contact us for your free, 30-minute obligation free appraisal today.
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If you have concerns about trusts, contact our Team today.
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