Miss use of funds by Trustee
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Miss use of funds by Trustee
Trustee refuses to provide beneficiaries a copy of the Trust. Reason to believe Trustee has miss used money for personal gain.
Asked on October 1, 2016 under Estate Planning, Wisconsin
Answers:
S.L,. Member, California Bar / FreeAdvice Contributing Attorney
Answered 7 years ago | Contributor
You can sue the trustee for breach of fiduciary duty (breach of trust) for mishandling funds. Your lawsuit can seek the remedy of a constructive trust which requires the trustee to return mishandled funds to the trust. A constructive trust can trace the funds to any acquisitions made by the trustee, and those items or their value can be returned to the trust.
If the trust provisions include procedures for removal of the trustee and appointment of a successor, those procedures should be followed. If the trust is silent on those issues, petition the court for removal of the trustee and your appointment as the successor trustee.
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