The Family Trust & Family Betrayal
Let’s face it – we’re all human and we all make mistakes. And there’s two types of mistakes. The first kind is caused by carelessness or negligence. The second type of mistake involves bad intent.
When a TRUSTEE of a Family Trust acts with the intent of depriving a BENEFICIARY, or improperly enrichens his or herself with family Trust assets, Nevada law can help the victim BENEFICIARY.
Most TRUSTEES who intentionally deprive one or more of their sibling BENEFICIARIES of Trust assets have never read the law of trusts and don’t understand, or appreciate, their fiduciary responsibilities. And they generally have no idea how much trouble they may be getting themselves into by raiding the family nest egg.
A “FIDUCIARY RELATIONSHIP” exists between the TRUSTEE and the BENEFICIARIES. This means the TRUSTEE must at all times act in the best interest of the BENEFICIARES’. It’s a special relationship that requires an elevated level of care. The law takes fiduciary responsibilities very seriously.
As a matter of law in Nevada, a TRUSTEE who intentionally acts in a way that hurts other family member BENEFICIARIES can be required to repay all of the assets they burnt through. They can also be forced to pay the ATTORNEY FEES of the BENEFICIARY who was damaged by the greedy TRUSTEE.
If the TRUSTEE of your family’s Trust is acting for his or her benefit, and not the TRUSTEES, the LivingTrustSource.com recommends that you see a trust attorney with experience in litigation and alternative dispute resolution. Even the most sinister TRUSTEE who has violated his or her fiduciary duties will consider reversing course when confronted by a skilled advocate ready, willing, and able to recover damages AND their client’s attorney fees.
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