Written in collaboration with Rosana Beechum
Any disagreement around the administration of a trust is defined as a trust dispute. It can cover conflicting opinions about the interpretation of a trust, any issues between feuding beneficiaries, accusations of mismanagement and debates around the value of assets in the trust.
Despite a trust being carefully created to avoid disputes occurring, it can still be the subject of litigation.
Within a family or close relations, it can be difficult to resolve trust grievances without professional guidance. In these situations, you have to be prepared to invest in the guidance of an unbiased professional. Aside from this, here are a few other key things to know when contesting a trust.
The time limit in which to bring a Will challenge can vary. Regardless, in any case, it is always best to seek advice at the earliest opportunity. There is the possibility to contest a Will after a grant of probate has been obtained in the estate. The issue with this is that if the estate has been distributed, then it can make it difficult to acquire any of the estate assets that may be due to you.
For those claiming under the Inheritance Act, then you will have six months from the date of the grant of probate to bring a claim. If you were to bring a claim outside of the six-month timeframe, it is possible in some circumstances.
Seek professional support
It is not every day that you have to contest a trust. It is also unlikely that those you know will have had to contest a trust. For you, what this means is that you will have little experience and knowledge about contesting trust and the process involved.
Whilst you can search how to contest a trust and look at previous examples of trust disputes, nothing can match the support and guidance of solicitors specialising in trust disputes. For example, the experience and expertise that trust dispute solicitors, Hugh James, can provide will be beneficial to you in your family trust disputes. They can help you through the process, doing everything in their power to ensure that you receive your desired result.
Consider mediation first
Applications to courts can not only be time-consuming, but it can also be costly. Before taking your dispute to court, consider trying to solve it through an alternative route. For instance, try solving trust disputes through trust dispute mediation. All parties in the dispute can discuss their options with a professional mediator (without bias).
The mediator involved can encourage all parties involved to consider potential options, as they guide you all to an agreeable solution. As such, when in the middle of family trust disputes, ensure that you have detailed knowledge of the best ways to solve the case outside of court. In doing so, it will help you to ensure that you can maintain a solid relationship with your family. A solid relationship that will help both parties to solve any problems quickly and efficiently, that suits you both.
With whichever route you decide to take, be prepared that it will be a lengthy process. However, with the right support in your corner, you could improve your chances of succeeding and receiving what you were rightly entitled to.