If you are a beneficiary under a trust, you have certain legal entitlements. If you feel that these have been breached, or the conduct of your trustee has been inappropriate, our lawyers on the Gold Coast at Aitken Whyte Lawyers may be able to assist you with your issue.
As a beneficiary, you still retain an interest in the trust property despite it legally being held by the trustee. This creates a duty of a fiduciary nature. Because the trustee legally holds property which is equitably owned by someone else, there are various trustee responsibilities and duties. For example, if your trustee has done something inappropriate with the trust property that is either not allowed or not contemplated by the trust deed, this may be a trustee breach of duty and you should seek legal advice about the possibility of litigation.
Trustees have various duties and determining their content, let alone whether or not a duty has been breached, is often complex. At Aitken Whyte we can advise you as to your legal entitlements as a beneficiary and whether any conduct may constitute a breach of trust.
There are duties in relation to remuneration, acting impartially, investing as authorised, and paying the correct beneficiaries. This is not a comprehensive list. If the trustee is investing the trust property in a way not agreed upon, are being paid excessively, or have paid out money to incorrect beneficiaries, you may have a claim. We can assist in determine your circumstances, the trustee’s specific obligations, and whether they have been breached.
In the event of a breach of trust, beneficiaries are entitled to bring legal action against a trustee. Aitken Whyte Lawyers can draft court documents and represent you in court in relation to these matters to promote the best possible outcome. Successfully suing a trustee can result in compensation where the trustee is liable to put the trust in the position it would have been in if not for the breach of trust. They are personally liable to make this payment.
Our Southport lawyers can also advise as to other options if you are unhappy with a trustee. As a beneficiary, you may be able to seek removal of a trustee and appoint an alternative one.
We deal with family trusts disputes, trusts and estates, and other issues arising from the existence of a trust. We will provide advice as to your situation and the best way moving forward with your trust in the event of a dispute.
Aitken Whyte Lawyers
Level 6, 9 Lawson St, Southport
Ph: +617 5596 9099