Although some trusts are irrevocable, there are special cases in which you may want to contest the contents of a trust for your better financial interests. In certain circumstances, contesting a trust can give you a legal upper-hand while helping you to gain back your valuable assets.
By understanding the legal background of a certain trust, you can start to learn how to modify or contest a trust that is standing. Remember that this may not work in all situations, but there are definite possibilities that can open you to the possibility of contesting a trust.
Understanding Trusts
Trusts are fixed legal documents established between two parties. The purpose of a trust is to allow a person the legal rights to hold property on behalf of a third-party person. The trustee is the person who holds the trust, while the settlor is the one who creates it. The third-party person involved is named the beneficiary, who is the one gaining the most benefit from the establishment of the trust.
Reasons to Contest a Trust
If the beneficiary no longer wishes to have the trust in place, they may be able to contest it based on some prerequisites. Reasons for being able to contest a trust include:
- Trust is no longer serving its purpose – If the trust has exhausted its original purpose, or if the beneficiary is no longer receiving a benefit from the trust, it could be contested.
- Trust no longer abides by the settlor’s wishes – If the trust was created under duress or an ulterior motive, it can be contested.
- Trust is too open to interpretation – If the language of the trust is too ambiguous, it may be argued about countless times. Beneficiaries may want to appeal to terminate the trust at this time. Unclear language can lead to a separation of intent which would no longer serve the beneficiary’s purposes.
There are plenty of reasons to contest a trust, especially if it no longer serves its purpose. You can contact a Northfield contested trust lawyer to receive specialist information and knowledge to help you gain an advantage in your case.
Contact Us for Legal Advice Today
If you’re looking to modify, contest, or terminate a trust as soon as possible, there are several processes you must go to appeal to the court. Our Orlowsky & Wilson office can provide a contested trust lawyer in Northfield to help you with your case no matter what. Contact us today to get your trust reversed.
