In New York, a trustee is an individual or entity appointed to manage and administer a trust for the benefit of designated beneficiaries. The trustee holds legal title to the trust property and is responsible for managing the trust assets in accordance with the terms of the trust agreement and applicable law. A trustee is held to the highest fiduciary standard, owing a duty of loyalty, prudence, and impartiality to the trust beneficiaries. A trust can be an effective tool for estate planning and wealth preservation, providing a range of benefits and advantages over other estate planning strategies. However, the creation and administration of a trust can be a complex and challenging process that requires the expertise of an experienced New York trust lawyer.
Trust AdministrationOnce a trust is established it must be properly managed and administered to ensure that the wishes of the grantor are carried out and that the interests of the beneficiaries are protected.
Disputes may arise over the management and distribution of trust assets, leading to litigation. It this happens, it is critical that you contact an experienced New York trust lawyer. Trust litigation may involve matters such as:
Breach of fiduciary duty claims: In cases of alleged breaches by trustees, we advocate for beneficiaries who claim harm to the trust and its beneficiaries due to fiduciary duty violations. Our experienced New York trust lawyers navigate these complex disputes to protect the rights of those involved.
Trust modification and termination: We represent clients in seeking to modify or terminate trusts based on changed circumstances or legal grounds. Trusts are dynamic entities, and our representation ensures they adapt to evolving needs while maintaining compliance with intricate legal principles. Whether it's adjusting the terms to align with current realities or pursuing termination for valid legal reasons, our legal team provides comprehensive guidance and advocacy throughout the intricate process. We prioritize understanding our clients' objectives, crafting strategic approaches, and navigating the complexities to achieve optimal outcomes in trust modification and termination matters.
Disputes over trust assets: We represent clients in disputes over the ownership and distribution of trust assets, including real estate, investments, and other assets. Whether the assets in question are real estate properties, diverse investments, or other holdings, we prioritize efficiency and precision in resolving disputes. Our commitment extends to navigating the complexities of trust asset conflicts, ensuring our clients receive vigilant representation and favorable outcomes.
Contact Stephen Bilkis & AssociatesOur experienced trust attorneys serving New York have a deep understanding of the complex legal issues involved in trust creation, administration, and litigation. We work closely with our clients to ensure that their interests are protected and that their goals are met. Contact us today to learn more about our trust services and how we can assist you in all aspects of trust creation, administration, and litigation in New York. Contact us at 800-696-9529 to schedule a free, no obligation consultation regarding your case. We represent clients in the following locations: Manhattan, Long Island, Nassau County, Queens, Brooklyn, Staten Island, Suffolk County, Bronx, and Westchester County.