Manhattan Trust Litigation

Trust Litigation Attorney in Manhattan

Those who live in Manhattan may find it advisable to place their property in a trust. In most cases, it is wise to consult with a lawyer. Not everyone needs to put property in a trust. However, once property has been placed in a trust, there is the potential for disputes, particularly if the settlor who made the trust has passed away. Once property is placed in a trust, it is managed by a trustee for the benefit of certain named beneficiaries. Trust litigation can arise when trustees fail to live up to their obligations or beneficiaries of the trust unfairly accuse them of failing to live up to the terms of the trust. If you are concerned about an impending lawsuit in connection with a trust, call knowledgeable Manhattan trust litigation attorney Jules Haas. He has over 40 years of experience. 

Lawyer to Represent You in Manhattan Trust Litigation

A trust is a legal arrangement spelled out in a document that gives someone the power to hold and manage money for the benefit of another person. Property that the settlor places into a trust doesn’t need to go through probate. However, this doesn’t mean that a trust removes all potential complications. Trust litigation can happen under a range of circumstances. They can be filed or defended against by a beneficiary, an interested party, or a trustee. Moreover, they may be filed for the purpose of interpreting trust terms; to request remedies after a trustee improperly administers the trust; to ask for an accounting; to challenge a trust’s validity. The Supreme Court and the Surrogate’s Court maintain jurisdiction over lifetime trusts.

Trust Contests in Manhattan

When someone wishes to challenge the validity of a trust, he or she may bring what’s known as a trust contest in Surrogate’s Court or Supreme Court—a formal objection to the validity of some provision of the trust. Unlike with will contests, that person will bear the burden of proof on all issues in the litigation.

An interested person or beneficiary may bring a trust contest on grounds of lack of capacity, undue influence, duress, fraud, and forgery. Lack of capacity is one common reason a trust contest is brought. To prove lack of capacity, the interested person must show that the settlor who made the trust: (1) didn’t understand the extent or nature of the property, (2) the way the trust was set up, or (3) their relationships to relatives and those others who are affected by the trust.

Trustee’s Breach of Duty

Beneficiaries of a trust are owed a fiduciary standard of care, the highest standard of care, by the trustee. This means the trustee is required to act for the beneficiary’s benefit, adhering to a duty of utmost loyalty and avoiding self-dealing or conflicts of interest. A trustee who fails to act with the utmost care when handling a beneficiary’s interest in trust assets and property can be sued for the resulting loss.

Right to an Accounting

As part of his or her duty of care, a trustee is expected to maintain accurate records of all transactions that involve trust property and assets or face the possibility of a lawsuit. Every beneficiary of a trust is entitled to an accounting of all transactions involving trust property.

Beneficiaries who are not provided with an accounting upon request should consult an attorney. Likewise, a trustee who is asked for an accounting and is uncertain about what this entails should seek legal counsel. An accounting can be compelled under Surrogate’s Court Procedure Act 2205 and Surrogate’s Court Procedure Act 2206.

Consult a Manhattan Trust Litigation Lawyer

Mr. Haas is a seasoned New York trust litigator who represents beneficiaries, trustees, and other interested parties. Dedicated to providing clients with personal and attentive service, he handles all probate, estate administration and Surrogate’s court cases as well as guardianship cases throughout New York and surrounding communities. Contact Mr. Haas now to discuss your matter via our online form or at (212) 355-2575 for a free consultation.