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Trust disputes can arise for a variety of reasons and, because the law on trusts is not always straight forward, legal disputes can often have serious consequences on both the trust and for its beneficiaries.
At Forbes, we have a specialist, dedicated team of solicitors who specialise solely in trust disputes, allowing us to deal with cases of any size, from issues relating to a small family will or trust, to large, complex trusts with an international element. Our expert solicitors work alongside an international network of specialists, giving us unrivalled experience of dealing with cases that are of high value and with an international element.
Trusts can be unwritten or can be created by a will or by a trust deed, and often trustees find the position thrust upon them. Trustees have a list of fairly complex and sometimes onerous duties, which include acting in the best interests of the beneficiaries, acting impartially and a duty to be ready with accounts. Because of this, legal disputes can often arise in a range of circumstances, including:
A 'breach of trust' is an act (or a failure to act) by a trustee that is not authorised either by the trust document or by law. This could include:
At Forbes, our expert team act for beneficiaries in bringing claims against trustees where they are in breach of trust, as well as acting for trustees in defending such actions. For more information, or to speak to our expert team, contact us today.
For the majority of trust disputes, the limitation period in which you can file a claim is normally 6 years from the date of knowledge of the breach, unless fraud is alleged.
Time is often critical in trust disputes, particularly if you suspect that a trust's assets are being misused or dissipated. If you are a trustee, you are under an obligation to act in the best interests of the beneficiaries and protect the trust assets, so it is imperative that you seek legal advice at the earliest possible opportunity.
In some circumstances, if all the current and remainder beneficiaries agree, a trust can be dissolved. Generally the manner by which a trust can be brought to end end depends on the type of trust. In cases such as this, all of the trust's income and assets are distributed to its beneficiaries. For more information about dissolving a trust, contact our team of international trust dispute solicitors.
The Contentious Trusts and Probate team at Forbes have significant experience in a wide range of trust issues, from complex trusts with an offshore element, charitable trusts and SIPP/SSAS pension trusts to Will trusts.
Our expert team have acted on behalf of trustees, beneficiaries and third parties in relation to all manner of trust disputes. If you have any issues at all relating to a trust, call our Contentious Trusts and Probate team on 0800 975 2463 for a free, no obligation consultation, and we can tell you how we can help.