When you create a trust, the goal is to set up a plan to protect your assets and provide for you, your loved ones, or a charity of your choosing. Ideally, everyone will cooperate, and the trustee will not encounter issues administering the trust. But sometimes disputes happen, especially where money and family are involved.
When conflict arises concerning trusts, it’s essential to seek out the knowledge and experience of a Round Rock trust litigation attorney to help you navigate the situation. Trust law involves nuanced and often unfamiliar legal terms and rules. An attorney can help you understand and assert your legal rights.
Robbins Estate Law provides exceptional estate planning, probate, and trust litigation services to clients throughout Texas. Our firm helps families resolve sometimes complex conflicts involving trusts to strive toward an equitable solution. Contact us today.
What Is a Trust?
A trust is a way to transfer your assets to a separate legal entity (the trust, which then legally owns the property) and distribute the assets to beneficiaries. The person or organization that creates the trust is called the settlor (or, in some cases, the grantor). The settlor names a trustee, who is responsible for carrying out the instructions in the trust. They can also designate a successor trustee who serves as trustee if the primary cannot or chooses not to participate in that role.
There are many different types of trusts, such as:
- Irrevocable trusts, including special needs or charitable trusts;
- Revocable trusts, such as land trusts;
- Testamentary trusts, which settlors create by putting a provision in their will; and
- Living trusts, which settlors create while they are alive.
Trusts are a powerful and simple way for people to pass on property to others without going through the lengthy and often complex probate process. Bypassing the probate process can result in fewer estate taxes and overall costs.
What Are the Fiduciary Obligations of a Trustee?
Texas law imposes fiduciary duties on the trustee in carrying out their obligations based on the instructions in the trust. When administering a trust, the trustee must deal fairly and be loyal to the beneficiaries. The trustee’s primary goals are to faithfully carry out the instructions in the trust and help ensure the beneficiaries’ best interests are protected.
For example, the trustee cannot waste trust assets by engaging in unwise investment activities with the trust’s funds. The trustee also can’t distribute assets to the beneficiaries in a way that harms the beneficiaries’ best interests or the intentions of the trust. So, let’s say the purpose of the trust is to provide long-term care for a child with special needs. In that scenario, distributing the trust assets all at once (rather than periodically) might financially harm the child or the trust.
If trustees fail to properly administer the trust, the beneficiaries or other financially harmed parties may bring a lawsuit against the trustee. A trust litigation attorney in Round Rock can analyze the instructions left in the trust and the underlying circumstances to help create a dispute resolution strategy that fits the situation.
Why Hire a Trust Litigation Lawyer in Round Rock, TX?
When disputes involving trusts arise, tensions are typically high. If the settlors established the trust for the benefit of family members, questions about improper actions by the trustee could create a challenging situation for the parties involved.
A Round Rock trust litigation lawyer helps create a buffer and serves as a mediator between the parties. Further, they have the knowledge and skills required to perform extensive research and information gathering to craft a reasonable resolution to the dispute. Attorneys communicate with the parties on behalf of their clients and represent clients in court or at the negotiation table.
Robbins Estate Law: Trust Litigation Lawyers Proudly Serving Round Rock, Texas
We understand that, when it’s all said and done, a trust is not about money. It’s about leaving a legacy behind. When trust disputes arise, that legacy is threatened and questioned, creating a challenging situation for the untrained litigant.
Our attorneys have years of experience helping residents of Round Rock understand and navigate trust litigation. We take time to understand our client’s perspectives and priorities. Together, we create a client-centered plan to zealously advocate for their best interests and achieve an amicable solution. Our team consists of attorneys who excel. Kyle Robbins scored in the top 1% on the law school entrance exams, earning him a Dean’s Presidential Scholarship to attend the University of Texas School of Law. In 2020, Expertise named Kyle one of the “Best Probate Attorneys in Austin.” As a father himself, Kyle understands how important family is. He understands how important it is to protect and provide for your loved ones by creating and, if necessary, defending a legal trust. If you are facing trust litigation in Round Rock, TX, contact our firm today to schedule a no-obligation consultation with a Round Rock trust litigation attorney on our team today.