Identifying Landmines and Minimizing Battle Scars in Conflicts Between Trustees and Beneficiaries
The roles of beneficiary and Trustee by their nature engender tension. The Trustee has the beneficiary's money (at least that's how the beneficiary views it), and the beneficiary wants it now! This inherent conflict has been accentuated by seemingly ever-increasing expectations and demands of beneficiaries and expanding theories of fiduciary liability.
Some of the most critical issues we face in this ubiquitous area of fiduciary practice include the following:
- Preserving the attorney-client privilege between the Trustee and the Trustee's lawyer
- Trends in fiduciary liability case law
- Removal or resignation of a Trustee
- Heightened standards of performance for professional fiduciaries