When you are facing a dispute regarding a trust, you may not have the necessary information to determine the value of the trust and whether the assets are being depleted. Thus, it is important to take action to protect the trust assets while the dispute is being resolved. Protecting assets while litigation is pending is often referred to as freezing the assets. We help you seek an order suspending the trustees power to deplete trust assets. It is usually sought on an emergency basis in order to obtain the relief as quickly as possible. To obtain the order, we must prove there is a likelihood of irreparable harm to the trust assets and there is no other adequate remedy at law. We will demonstrate to the court our likelihood of success on the merits of the primary action and that your interests outweigh any potential harm to the trust.
If the trust assets are frozen, it means they cannot be used or otherwise depleted. This is often accomplished by the court suspending the trustees powers or by appointing a fiduciary to hold the trust assets until the dispute is resolved and the rightful owner is determined.
If you believe a trust is being mismanaged or the trustee has breached his/her fiduciary duties, we can help you freeze and protect the assets of the trust during the action to challenge the trustees misconduct.
There are lots of good reasons to act quickly if you think a trust is being mismanaged and the assets are being depleted. If you are interested in challenging the actions or inactions of a trustee and/or freezing trust assets, feel free to contact us to schedule your no-cost consultation. We are truly here to help. Simply call: (714) 963-7543. At The Legacy Lawyers we are dedicated to your peace of mind.