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An insurance deductible is the amount you, the insured, pay before any claim is paid ...

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Enhancing Estate Planning through Heir Involvement

Estate planning goes beyond legal formalities; it’s an essential process that facilitates meaningful family dialogue ...

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Social Security, Medicare, and HSAs

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Avoiding Trustee Issues

November 28, 2018

An uncooperative trustee named as responsible for your trust management could prove especially problematic for your loved ones but only after the fact when you are no longer around to change this person or to do anything about it. NJ-estate-planner

An uncooperative trustee is someone who is not living up to his or her legal obligation to keep heirs informed about the status of an estate or to distribute the assets in a timely fashion after the estate has been concluded. Beneficiaries are entitled to certain things when named in a trust. For example, a beneficiary is entitled to a copy of a trust.

While the trustee who is responsible for the management of this asset can choose to limit what is ultimately sent to you with regard to only sending you provisions that apply directly to you, you may have rights to pursue legal action if the trustee refuses to send you anything at all. As a beneficiary, it’s a good idea to ask for a copy of this document anyways to review the terms. Many of the problems that result between beneficiaries and allegedly uncooperative trustees stem from misunderstandings and miscommunications.

Either one of these individuals or both might be confused about what is actually included inside the trust. Just because someone told you about the provisions inside doesn’t necessarily mean that you understand the terms and it’s a far better idea to ask for a copy and to review it. If you review the trust and determine that the trustee who has been appointed is not living up to his or her fiduciary duty or legal responsibilities, you do have options to pursue legal action against this person.

The first line of resolution to pursue is to consider contacting the trustee directly and explaining your concerns. While this can be a difficult conversation, many further legal issues can be avoided by requesting this conversation directly with a trustee. You may be able to sort these issues out without having to go to litigation. If you come to the conclusion that this was the result of a misunderstanding, you may be able to avoid taking further legal action, but in the event that you must pursue litigation, schedule a consultation with a knowledgeable probate attorney.

 


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Recent Posts
How Insurance Deductibles Work

An insurance deductible is the amount you, the insured, pay before any claim is paid ...

The post How Insurance Deductibles Work first appeared on Integrated Tax Planning, Legal Planning & Financial Planning.

See more
Enhancing Estate Planning through Heir Involvement

Estate planning goes beyond legal formalities; it’s an essential process that facilitates meaningful family dialogue ...

The post Enhancing Estate Planning through Heir Involvement first appeared on Integrated Tax Planning, Legal Planning & Financial Planning.

See more
Social Security, Medicare, and HSAs

If your employer health plan is a health savings account (HSA) paired with a high-deductible ...

The post Social Security, Medicare, and HSAs first appeared on Integrated Tax Planning, Legal Planning & Financial Planning.

See more