Moving on after losing a loved one can be a challenging thing to do. When there are issues with how his or her estate is being managed, it can make things even more difficult. Many New Jersey residents place their assets in trusts for protection and tax benefits. This is supposed to make things easier on beneficiaries when it comes to estate administration. However, some individuals will find they have problems with the trustee that they cannot work out on their own, which may lead to estate litigation.
Being the trustee of an estate is a significant role to play. It is not a position that should be assigned to just anyone. Your loved one named the person he or she thought was best suited for the role. Unfortunately, sometimes, it turns out that they are not.
If you believe that the trustee assigned to handle your loved one’s trust is making mistakes or is untrustworthy, you may be able to do something about it. Sometimes, changing the trustee is the best thing to do. Some individuals in the trustee position may willingly give up their role, but some will not. If they won’t, it may be necessary to take the matter to court for a judge to decide who should be responsible for managing the trust.
Fighting over an estate is not something anyone really wants to do, but sometimes, it is necessary to ensure assets are managed appropriately. The hope is to resolve the situation through out-of-court negotiations, but sometimes, taking the issue before a judge is the only way to reach a resolution. Those in New Jersey who are dealing with a problem trustee can turn to an attorney with estate litigation experience for assistance with addressing the matter. To learn how legal counsel can be helpful in this type of situation, please take a moment and visit our firm’s website.