of inheritance for their family and loved ones at this point. People are starting to plan for the future earlier than in the past, so they’re able to build more wealth and leave more bequests to their heirs.
More people are realizing the importance of the legal side of the equation as well. As such, they’re becoming more likely to create wills and trusts to ensure their final wishes are carried out.
Because of the uptick in the number of inheritances being left behind, and in spite of increased estate planning efforts, disputes over inheritances are on the rise.
Common points of contention include how trusts are handled, who should be in charge of them, which assets are included, and who should rightfully inherit them to name a few.
When those issues arise, a trust litigation lawsuit could be the key to resolving them. Understanding the litigation process and when legal action may be necessary can help beneficiaries protect their rights.
Trust Litigation Explained
In short, litigation is the legal process of resolving disputes over trusts. Beneficiaries may dispute trusts for several reasons. As mentioned, those include appointing a trustee and which beneficiaries are included in the arrangement.
Beneficiaries can also contest a trust if they believe the grantor was unduly influenced when creating it or if they feel that the grantor lacked the mental capacity to decide how his or her estate should be handled and distributed. They can also bring about a dispute if they believe some type of fraud has taken place, such as forged signatures, theft, and mismanagement of the trust.
When Is Litigation the Answer?
As a beneficiary, if you feel your best interests are being ignored, litigation may be the answer. In the event you think you’ve gotten less than your fair share of an inheritance, you can take legal action. If you’ve been left out of an inheritance and you believe you should’ve been included, that may also be grounds for dispute.
That’s also the case if you feel certain people who have been included in the trust shouldn’t have been. You should also consider litigation if a trustee seems to be using your inheritance for his or her own benefit instead of managing it to your advantage.
It’s important to consult with an attorney as early as possible after you realize something may be wrong. Don’t second-guess yourself; trust your intuition. It’s better to act on those gut feelings than to remain silent and regret doing so later on.
An attorney can delve into the situation and determine if any fraud is afoot or whether your rights have been compromised or altogether ignored.
If so, a lawyer can help you resolve the problem. At the very least, even if there’s no wrongdoing, seeking help from an attorney can give you peace of mind and the satisfaction of being proactive.
Protecting Your Inheritance and Your Rights
As the beneficiary of a trust, you have a right to protect your inheritance. Depending on the situation, you may have certain rights even if you haven’t been named as a beneficiary. Having legal representation is the key to ensuring your best interests are kept in mind and your inheritance is handled properly. Litigation isn’t always the answer, but in many cases, it’s the best course of action.
