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Alex R. Hernandez Jr. Trial Lawyers PLLC handles trust litigation when there are disputes with the interpretation of the trust or a settlor or trustee is abusing their fiduciary duty including mismanagement of trust funds. A trust is created by a settlor, who transfers title to some or all of his or her property to a trustee, who then holds title to that property in trust for the benefit of the beneficiaries.
Texas Property Code Sec. 112.001. METHODS OF CREATING TRUST. A trust may be created by:
(1) a property owner’s declaration that the owner holds the property as trustee for another person;
<p(2) a property owner’s inter vivos transfer of the property to another person as trustee for the transferor or a third person;
(3) a property owner’s testamentary transfer to another person as trustee for a third person;
(4) an appointment under a power of appointment to another person as trustee for the donee of the power or for a third person; or
(5) a promise to another person whose rights under the promise are to be held in trust for a third person.
The trust is governed by the terms under which it was created. In most jurisdictions, this requires a contractual trust agreement or deed. It is possible for a single individual to assume the role of more than one of these parties, and for multiple individuals to share a single role. For example, in a living trust it is common for the grantor to be both a trustee and a lifetime beneficiary, while naming other contingent beneficiaries.
A trust agreement spells out the rules that you want followed for property held in trust for your beneficiaries. Common objectives for trusts are to reduce the estate tax liability, to protect property in your estate, and to avoid probate.Trust litigation specifically involves the administration and distribution of a trust or the mismanagement of that trust usually. Usually trusts are created with conditions on the distribution of the assets in the account and are managed by a third party trustee. When that trust is mismanagement it may take a beneficiary to step in and request the trustee be removed or changed.
Estate and trust litigation attorneys primarily represent clients in litigated disputes over estate and trust assets or distributions. Estate litigation involves wills and matters arising from the death of an individual in relation to their assets. This is where our law firm comes in. We handle the trial and litigation aspects of the trustee removal, objections to changes, or defending the trustee from removal.
Call us today if you have a trust litigation issue that needs attention.
Call Alex R. Hernandez Jr. 1-888-HDZ-LAW-8. Let us protect your money and inheritance, let us protect you.