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Probate and Estate Litigation Blog

Trust Administration Archives

What is a trustee's fiduciary duty?

When a person in Minnesota sets up a trust, they will name a certain individual as the trustee. This is an important role that comes with significant responsibilities. Most trustees want to properly fulfill their role as trustee, including the fiduciary duty they have to the trust beneficiaries.

Financial exploitation of the elderly is serious

Many people in Minnesota are growing older. The baby boomer generation has amassed wealth that has never been seen before in the United States. Those born in the 20s and 30s will pass $12 trillion to the next generation, while baby boomers are estimated to leave more than $30 trillion behind. It is estimated that over the next few decades over $60 trillion dollars will be passed to the next generations. With this amount of wealth, there are bound to be issues regarding trust administration.

Has there been a breach of fiduciary duty?

When a loved one passes away, they often leave an estate behind for their loved ones to figure out. These estates can cause a family stress and disagreements. Those who are put in charge of an estate may not be doing their duty as far as trust administration and there can be fiduciary issues.

Is your family involved in a trust dispute?

A family trust is put in place to protect a family's assets and pass along these resources to future generations. But, occasionally these trusts run into family disputes in Minnesota. Trust disputes can be stressful for families and can lead to families suffering long-term consequences.

What are things that can be disputed in a trust?

Many Minnesota residents know how complicated estate matters can get. Not all families have estate plans that are fool proof, and often estate disputes emerge that were not expected. Many times, a person or a group of people will find fault with an aspect of a person's estate plan after they die. A trust dispute is one common occurrence.

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