Creating a trust in Kentucky is a popular choice for those who want to add a layer of privacy to their estate planning purposes. The rules related to creating and managing trusts are found in Ky. Rev. Stat. Ann. § 386.010 et seq. Unfortunately however, the best of intentions do not always hold up after the fact when a Kentucky trust litigation lawyer has to be hired to handle an issue involving questions over the terms of the trust or the trustee’s actions within the trust. In all of these circumstances, they can be the first line of defense for a trustee who has been accused of inappropriate behavior and should also be the first phone call made by beneficiaries who have questions about a trustee’s actions. They can help answer many of the most common questions about what trust litigation looks like and whether or not it makes sense to proceed. Not just anyone can file a claim against a trustee. In these unique circumstances the support of an experienced trust Kentucky trust litigation lawyer can help beneficiaries concerned about their rights get answers to their questions and determine the most appropriate course of action. It can be hard to know what is expected of you as a trustee or a beneficiary, but trustees have a legal responsibility known as fiduciary duty to the beneficiaries on an estate or a trust.
If this fiduciary duty is breached and the beneficiaries are successfully able to show this in court, that trustee could be held personally liable for the damages they have caused the trust. This can significantly decrease the value of the assets inside the trust but can also add additional time for beneficiaries and trustees alike to manage the related dispute. There are many different reasons why a beneficiary might initially open a claim against a trustee of a Kentucky trust. The services of a trust litigation attorney in Kentucky can help explain when a trustee has violated their role or has breached their fiduciary duty.
Knowing when and how to get support for a legal claim can also defuse situations that might have just been misinterpreted. Many estate and trust litigation issues can be resolved outside of court when relevant parties have their own legal counsel and have clarity over what does and does not violate the law or the trustee’s fiduciary duty. A trustee has to not only manage the assets inside the trust with the accordance of a trust but must keep beneficiaries up to date and provide accountings of transactions taken on behalf of the trust.
This helps give transparency to the role of the trustee and also gives those beneficiaries who are questioning the trustee’s behavior an opportunity to bring forward a legal claim if and when one is viable. In all of these circumstances, proper support from an attorney is essential for protecting a trustee’s rights or for empowering a beneficiary who has questions about this case.
If you’re not sure what is next or if you have enough information for a legal case, you can run this by an experienced trust litigation attorney serving Kentucky for more information about how to proceed.