Legal Question in Wills and Trusts in Missouri
Are there damages awarded for fiduciary breech?
Parent had a living trust. Trustee has been extremely biased, has not followied the directives of memorandum, missed certain provisions in the trust, covered up property and credit card theft by my brother who is also a beneficiary and more.
When the breach(es) are proven in court, will the trustee be charged with my attorney fees and court costs? I certainly don't want my parent's estate to have to pay, as that will mean more financial loss for the beneficiaries.
We want to deal with the credit card problems as well, so do we need to hire an attorney? If so, what kind of attorney, or will the local prosecutor do so if we notify the police? What is the crime called when brother signed parents name after their death for his own personal charges?
How are these types of attorneys typically paid? thanks
1 Answer from Attorneys
Re: Are there damages awarded for fiduciary breech?
If it can be shown that the Trustee breached his fiduciary obligations in a substantial way, he can be removed as trustee and damages can be obtained against him personally. If it can be shown that the breaches were intentional, punitive damages can be obtained, as well. If it can be shown that the trust sufferred loss because of the fraud of another beneficiary, the loss can be recovered from the beneficiary by offsetting against that beneficiary's share or by obtaining judgment against the beneficiary, as well.
IOf it can be shown that the charges were incurred on credit cards by fraudulent signature, then the loss is limited to $50. The credit card company can seek redress against the fraud feasor.
I will be happy to discuss this matter with you. Attorneys, like me, whose practice focuses on estate planning, administration and litigation, better understand the theories fo recovery and the procedures that most efficiently obtain results.
Related Questions & Answers
Looking for something else?
10,200 active attorneys ready to answer your legal questions today.
Featured Attorneys
Earn additional revenue and grow your business.
