Law Office of Jennifer Guimond-Quigley’s Post

If beneficiaries suspect a trustee is not acting in good faith, mismanaging assets, or unjustly enriching themselves, they can look to the trust agreement. There may be provisions where beneficiaries may remove a trustee. They should also contact an estate planning attorney who can bring an action against the trustee. https://ow.ly/8N8x50Sptfi #estateplanning #trustlitigation

If beneficiaries suspect a trustee is not acting in good faith, mismanaging assets, or unjustly enriching themselves, they can look to the trust agreement. There may be provisions where beneficiaries may remove a trustee. They should also contact an estate planning attorney who can bring an action against the trustee. https://ow.ly/mPhw50Sptfk #estateplanning #trustlitigation

The Five W’s of FDRs (Financial Dispute Resolutions) 🔍 In her latest blog, Leora Taratula-Lyons provides an in-depth guide to FDRs - what they are, why they matter, how they can be used to resolve disputes and the difference between traditional court-based FDRs and private FDRs (pFDRs). For those going through financial remedy or Schedule 1 proceedings, an FDR can be a crucial step in settling disputes swiftly and proportionately without having to go through the emotional and financial cost of litigation or a full trial. With FDRs becoming increasingly popular as a form of NCDR (Non Court Dispute Resolution), understanding their role in enabling parties to achieve a negotiated settlement is more important than ever for clients and practitioners alike. Whether you’re already engaged in financial remedy or Schedule 1 proceedings or simply want to understand the process, click below to read Leora’s excellent insights. 🔗 https://lnkd.in/evWBYYCK #familylaw #divorcesupport #financialdisputes #disputeresolution #fdr #legalguide #legalinsights #legalhelp #ncdr

My latest blog on FDRs. Aimed at the lay client but please do give it a read if you’re interested!

If beneficiaries suspect a trustee is not acting in good faith, mismanaging assets, or unjustly enriching themselves, they can look to the trust agreement. There may be provisions where beneficiaries may remove a trustee. They should also contact an estate planning attorney who can bring an action against the trustee. https://ow.ly/Hfau50Sptfh #estateplanning #trustlitigation

When a trust arrangement contains complex conditions or a trustee abuses their power, disputes can get nasty. From misunderstandings to accusations of mismanagement to questions of capacity issues, let's explore the most common disputes that arise around trusts and how you can set up your estate to prevent them. https://lnkd.in/erjnPszw #MHPSLaw #FamilyLaw #Probate #WealthPreservation

Learn how to expedite the finalisation of deceased estates! Deceased estate administration often faces delays due to compliance and legal challenges. Our upcoming webinar, "Deceased Estates – Navigating Complexities and Compliance", takes place on 31 October 2024 at 10:00 AM (SA Time) and will explore this in detail. Learn how to expedite the process by streamlining documentation, resolving disputes, and facilitating asset liquidation. Register today to secure your spot: https://bit.ly/3YpNL4r #DeceasedEstates #EstateManagement #TaxPlanning #Executors #FinancialAdvisors #SARS #EstateAdministration #CPDPoints #LearnWithUs #EstatePlanning #ProfessionalDevelopment

Trusts can significantly complicate contracting out agreements controlling what is relationship property and what is separate property. First, it is important to realise that the bundle of rights you might have in relation to a trust (eg as trustee, beneficiary, a power to appoint) might be considered property and can come into the purview of a contracting out agreement. Second, it is quite common for contracting out agreements to identify that a trust will enter into a deed to do particular things required by the contracting out agreement - assuming that at least 1 of the parties to the contracting out agreement controls the trust decision making as a trustee. However, take care that entering such an arrangement does not breach trustee fiduciary duties!

Can a trustee take money or assets from a family trust after the owner passes away? No, they can’t, and here’s why. The law recognizes the principle against commingling of assets, which means a trustee’s personal assets must always remain separate from the assets of the trust. If a trustee were to misappropriate trust assets, it would be a serious breach of both statutory and fiduciary duties. The bottom line: trust assets and a trustee’s assets are always treated as separate. This is crucial for maintaining trust integrity and protecting private wealth. #PrivateWealth #TrustLaw #FiduciaryDuties

Understanding the role of a trustee: entrusted with managing trust assets, a trustee acts in the best interests of beneficiaries through prudent investments, transparent communication, and legal compliance, all while honoring the trust's intentions.🤝✨ #Trustee #EstatePlanning