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If you are a trust beneficiary, you have certain rights and expectations. You expect the trustee, who manages the trust, to act in your best interest and follow the terms of the trust agreement. But what if you think the trustee is not doing their job right? What if you suspect the trustee has made mistakes or errors or breached their fiduciary duty to you and the other beneficiaries? What can you do to protect your rights and interests?
The first thing you should do is check the trust agreement. This document created the trust and spells out the rules and instructions for the trustee and the beneficiaries. The trust agreement may provide remedies or options if you are unhappy with the trustee’s performance. For example, some trust agreements may allow you to:
The next thing you should do is review Colorado’s Uniform Trust Code. This law governs trusts in Colorado and provides the rights and duties of trustees and beneficiaries.
The Uniform Trust Code may give you additional remedies or options if the trust agreement does not address your situation or the trustee has violated the law. For example, some sections of the Uniform Trust Code that may be relevant to you are:
The last thing you should do is consult a lawyer. A lawyer can help you understand your rights and options, advise you on the best action, and represent you in legal proceedings. A lawyer can also help you communicate with the trustee and the other beneficiaries, negotiate a settlement, or draft a new trust agreement. A lawyer can protect your interests and help you achieve your goals.
If you are looking for a lawyer specializing in trust administration in Colorado, contact us at 720-821-7604 or click the button above to schedule an evaluation with one of our attorneys. We have the experience and expertise to help you with any trust-related issues. We offer a free initial consultation and a reasonable fee structure. We are committed to providing you with quality legal services and personalized attention. Call us today to schedule an appointment.
If you think it might be time to think through your estate plan, you can:
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Disclaimer: The information on this website is for general information purposes only. Nothing on this site should be taken as legal advice for any individual case or situation. This information is not intended to create, and receipt or viewing does not constitute an attorney-client relationship.
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