Do you know what self-dealing means? One common reason people rely on Florida trust lawyers is to deal with Florida probate litigation related to self-dealing. If you think the trustee is getting more than they are entitled to or taking advantage of trust funds then it may be time to file a probate lawsuit.
What is Self-Dealing?
- Estate lawyers in Florida know that trust funds and trust assets may belong to the Delray Beach trustee on paper but they are for the benefit of the beneficiaries.
- What does that mean?
- It means that a trustee cannot use those assets to benefit him or herself even if it is also good for the beneficiaries.
- This rule may seem harsh but it keeps everyone in line.
- Probate litigation attorneys often find cases where a trustee bought or sold property and got some type of benefit then when the lawsuit comes up they say well it also benefitted the beneficiaries.
- That is still self-dealing, and could still result in a Palm Beach probate lawsuit.
- Florida probate lawyers know how self-dealing can erode the very nature of a trust, the trust between the trustee and beneficiary.
- If you are a beneficiary and feel that the trustee is taking advantage of their position then you may want to consult with a Florida estate attorney before it is too late.
- Probate attorneys Florida will want to look at the trust accounting so make sure to bring a long the relevant paperwork when you go to see your West Palm Beach probate lawyers.
Ball Trust v. Durst
- This was a very complex trust lawsuit that arose in the Federal Court in New Jersey.
- A man had appointed his two brothers to look over a trust that was for the benefit of his nieces, nephews and children.
- Relations broke down and estate attorneys had to be brought in.
- The trustees were sued for self-dealing and breaching fiduciary duties and their attorneys were even sued for malpractice!
- Florida estate attorneys know that part of representing a trustee is evaluating the legality of their actions and whether they constitute self-dealing.
Want to learn more about trustee duties?
Check out the entire case by clicking here.
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