Results 1 to 2 of 2
  1. #1
    Join Date
    Jun 2020
    Posts
    2

    Default Fiduciary Responsibility of Descendant

    My question involves estate proceedings in the state of:Utah
    My father passed 2018 at the age of 97. In 1993 he and my mother, (died 2002) made a A B trust naming each other survivor trustees, and specifying that the trusts would become irrevocable at the death of the first to die, including naming the trustee(s). In 2014, my dad, used a clause that allowed him to remove: "$5000, or 5 percent, in a given year, up to the total amount for support" to mean he could eliminate the trust in it's entirety; should be noted, he had plenty of other resources, and had said he wanted the properties that he was removing from the trust to be held in perpetuity as a legacy, (family ranch). Trustee knew this could not be done legally, was an expert accountant in the field of trust law ect. But he and his best friend, an attorney, convinced my father that he didn't need the consent of the beneficiaries, and built a new trust on that assumption. He had my dad name the attorney the successor trustee, and now refuses to allow discovery of any documents. I understand that there should have been a document signed by my father, showing he understood that there could be conflict of interest with this arrangement,, I understand there is a responsibility to the beneficiaries as a successor trustee, to protect the interests of the beneficiaries. There are many different parts to this story.
    I filed a claim against the estate, the trustee filed for the court to rule on the validity of the trust. They hired a top gun trust attorney to cover up their mistakes. (and charge it to the estate)

  2. #2
    Join Date
    Oct 2014
    Posts
    7,920

    Default Re: Fiduciary Responsibility of Descendant

    Quote Quoting legalnoobie
    View Post
    I filed a claim against the estate, the trustee filed for the court to rule on the validity of the trust. They hired a top gun trust attorney to cover up their mistakes. (and charge it to the estate)
    Ok, but what is it that you want feedback on from the people on this forum? Without reading the trusts and seeing what your father did there is no way I can tell if the trust provisions were properly followed or not, and if the trust provisions were not followed then the details of what happened matter as to what remedy the beneficiaries have and against whom. Do you have a lawyer handling your claim? And why are you suing your father's estate instead of the trustee? If you don't have a lawyer representing you in this matter, it is probably a good idea to at least consult one and ensure you're on the right path here. The other side has a lawyer and who, according to you, is a "top gun trust attorney" which means he or she will be very familiar with the court rules, rules of evidence, etc., and will use those to his/her client's advantage to try to defeat your claim. If you don't know those rules well yourself then you'll have a harder time countering what that attorney does if you handle it yourself.

    1. Sponsored Links
       

Similar Threads

  1. Estate Assets and Debts: Who Can Act as a Fiduciary of an Estate
    By Gpaof59 in forum Estate Planning, Administration and Probate
    Replies: 1
    Last Post: 06-05-2018, 03:22 PM
  2. Heirs and Beneficiaries: Theft of an Inheritance by a Fiduciary
    By bluecollaraddict in forum Estate Planning, Administration and Probate
    Replies: 3
    Last Post: 06-17-2016, 12:40 PM
  3. General Power of Attorney: Breach of Fiduciary Duty
    By newfoundland in forum Estate Planning, Administration and Probate
    Replies: 3
    Last Post: 03-26-2012, 06:13 PM
  4. Job Benefits: Fiduciary Responsibility for a 401k
    By johngb in forum Employment and Labor
    Replies: 5
    Last Post: 12-10-2008, 06:27 PM
  5. My Parents Died, And I Am Their Only Descendant
    By aggie1207 in forum Estate Planning, Administration and Probate
    Replies: 1
    Last Post: 05-28-2008, 04:33 PM
 
 
Sponsored Links

Legal Help, Information and Resources