A trust is a fiduciary relationship in which a person (the trustor) appoints another person (the trustee) to hold assets on behalf of beneficiaries. There are several issues that come up when it comes to administering trusts, including:
➡️ Outdated terms or provisions of the trust documents
➡️ Allegations of mismanagement of trust funds
➡️ Deceased or incapacitated beneficiaries
➡️ Contest to the validity of the trust documents
➡️ Failure of the trustor to transfer assets into the trust
➡️ Vague instructions regarding the distribution of trust property to the beneficiaries
➡️ Disputes regarding the authority of the new trustee
To avoid these issues, work with an experienced estate planning attorney who can help guide you through the process of drawing up a trust. Contact us at the Law Offices of Kelton M. Burgess, LLC today to get started.
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