Defending And Initiating Fiduciary Litigation In Minnesota
A fiduciary is a position of trust. In the context of probate proceedings, a fiduciary is a person who acts on behalf of a trust or estate and includes personal representatives, trustees, guardians and conservators. Fiduciaries in these positions can be challenged and subject to removal proceedings.
Experienced Litigators
At the St. Paul, Minnesota, law firm of Mason & Helmers, we both defend fiduciaries against removal proceedings and help clients initiate removal proceedings. Drawing on more than 30 years of experience, our attorneys can quickly identify the issues involved and advise clients on their likelihood of success.
The firm defends fiduciaries and seeks to remove fiduciaries in litigation involving the following issues:
- Breach of fiduciary duty or responsibility
- Imprudent investments
- Self-dealing
- Excessive administrative or legal fees
- Failure to share information with beneficiaries
- Misuse of funds
- Failure to insure property and other negligence
- Favoring one class of beneficiaries over another
- Failure to timely make distributions
- Failure to properly manage a business
- Failure to properly interpret a will or trust
- Failure to carry out the duties of a conservator or guardian
Defending Against Removal As A Fiduciary
A fiduciary is someone entrusted to manage assets or interests on another person’s behalf. As part of their role, they must always act in the best interests of the person to whom they have a duty. When facing potential removal as a fiduciary, it is crucial to have a robust defense strategy. A few examples of those strategies include:
- Demonstrating fiduciary compliance: Gathering and presenting evidence to show adherence to all your fiduciary duties. Keeping records of financial transactions, payments on debts, distributions, taxes and other documents.
- Documenting decisions: Keeping thorough records of all decisions and actions you take in a fiduciary capacity.
- Addressing allegations: If misconduct claims exist, presenting factual evidence and professional testimony supporting your integrity and decision-making process is often crucial.
- Mediation and negotiation: Facilitating sessions to address concerns and find amicable solutions that preserve your fiduciary role, especially if there were recently discovered mistakes or errors.
We can assist you with all these matters when devising a defense strategy against fiduciary removal.
Clients In Fiduciary Litigation
The firm represents personal representatives, trustees, conservators, guardians, heirs, beneficiaries and other interested parties in fiduciary litigation. Our attorneys also represent co-fiduciaries in actions where one fiduciary seeks the removal of another for breach of fiduciary duty.
Contact Us
To learn more about fiduciary litigation, contact Mason & Helmers today. Our firm’s lawyers serve clients in the Minneapolis, St. Paul, area and beyond. Call 651-323-2548 to set up an appointment.