Individuals who act as administrators of wills and trusts in California have a fiduciary duty to the beneficiaries of those wills or trusts. If they were to breach that fiduciary duty, they could face legal sanctions such as removal from responsibility for the will or trust and be ordered to pay damages to beneficiaries they harmed financially.
The trust and will inheritance lawyers of Albertson & Davidson, LLP, help individuals and families who have been manipulated or exploited financially by trust and will administrators to recover compensation and seek sanctions against fiduciaries who have breached their duty to them. We assist clients throughout California from offices in Los Angeles, Bay Area, San Diego County, Orange County, and Silicon Valley.
We offer free consultations, and if we can’t take your case, we will refer you to someone who can. We want you to let your problem become our problem.
Fiduciary Obligations in Trust and Will Administration
Fiduciary duty is the obligation to act in someone else’s best interest, which is often focused on financial interests. An individual or organization assumes fiduciary duty – and may be referred to as a fiduciary – when someone else places their trust and confidence in them due to their knowledge, reputation, or status.
A financial trust is a legal entity that holds assets for named beneficiaries of the trust. A trustee of the trust ensures that its funds are invested and distributed to beneficiaries according to the trust’s bylaws. A trustee has a fiduciary duty to make prudent investments that are expected to increase the trust’s assets and to distribute proper and timely payments to trust beneficiaries.
A will, or a last will and testament, is a legal document in which an individual outlines how their assets should be distributed after they die. Upon the individual’s death, the executor of a will or the court-appointed personal representative of the estate assumes a fiduciary duty to the decedent’s estate and to the beneficiaries of the will.
For the decedent’s estate, the fiduciary is obligated to:
- Pay bills
- Ensure the continued fidelity of any active accounts or investments
For beneficiaries of the will, the fiduciary has an obligation to:
- Ensure beneficiaries receive their inheritance
- Keep beneficiaries apprised of the fiduciary’s activities in settling and closing the estate
- Provide a full accounting of their activities as the administrator of the estate, if requested
When a fiduciary does not fulfill their legal obligations, they are in breach of their fiduciary duty. An adversely affected beneficiary has the right to question a breach, and if a satisfactory explanation or remedy is not forthcoming, seek the assistance of a will and trust contest lawyer.
Potential Red Flags in Trust and Will Administration
The most obvious sign of trouble when you are the beneficiary of a will or trust is not receiving the benefits you have been promised on time.
Other examples of acts that may indicate a breach of fiduciary duty include:
- Failing to respond to the beneficiaries’ requests for information
- Negligent management of trust or estate assets, including negligence in obtaining appraisals of estate assets
- Removing property from the estate without approval
- Demanding unreasonable compensation for duties of the fiduciary position
- Self-dealing or transferring assets from the trust or estate to their personal accounts
- Otherwise acting in conflict with the best interests of the beneficiaries
How Albertson & Davidson Can Help If You Suspect Mismanagement of an Estate or Trust
The aggressive lawyers at Albertson & Davidson fight against beneficiary abuse by filing trust contests and wills contests in California courts when appropriate. Under California law, you may be able to recover compensatory damages to restore your losses as well as punitive damages for the harm done by an intentional breach of fiduciary duty.
You have the right to question the actions of a trustee or an executor of a will, even if the trust or will contains a no-contest clause. A fiduciary has a duty under California law to communicate with you. Many times, a letter from your trust or will contest attorneys is enough to prompt a fiduciary to begin acting in good faith.
If initial contact does not get results, our legal team can advise you on your options. Successfully challenging a will or trust in California requires filing a petition with the local probate court that clearly outlines the reasons for the challenge.
To win a breach of fiduciary duty claim, you must prove to the court that:
- A fiduciary relationship existed.
- The fiduciary breached their duty to the plaintiff.
- The breach harmed the plaintiff (cost you money).
The lawsuit must also provide evidence that supports its assertions of a breach and any relevant information regarding other beneficiaries who may be involved in the breach of fiduciary duty.
In addition to ordering the trustee or executor to pay damages, the court may prevent the trustee from taking further actions that would be a breach of their duties or appoint a special fiduciary to take possession of trust assets and administer the trust or take over administration of the estate and the decedent’s will.
Contact Our Inheritance Attorneys About a Breach of Fiduciary Duty in California
The aggressive lawyers at Albertson & Davidson, LLP, file will and trust contests throughout California to help beneficiaries whose rights are being abused by wayward executors and trustees. Our in-depth knowledge of trust, estate, and probate matters makes us powerful advocates for beneficiaries when breaches of fiduciary duty threaten their inheritance.
Talk to us today if you believe a breach of fiduciary duty regarding the administration of a will or trust has caused you financial harm. We handle many beneficiary claims on a contingency fee basis, which means you do not pay any upfront costs.
Contact us today for a free initial consultation about your case. We stand. We fight. We win.
