A trust dispute can be complex and difficult to navigate. As trusts are used frequently for a variety of purposes in Australia, trust disputes can be very common.
Trust disputes can arise for a number of reasons, and when they do, it is important to seek legal advice.
Whether you’re a trustee, trustor, or beneficiary of a trust, our trust dispute lawyers at Gibbs Wright Litigation Lawyers can help you.
What is a trust?
A trust is a way to control the distribution of property and assets, including money. A trust can ensure that assets are distributed under specific circumstances to specific beneficiaries.
Due to the tax and inheritance benefits associated with trust structures, they are frequently used in Australia.
Fundamentally, a trust is a fiduciary relationship between three separate parties:
The trustor is the person who creates the trust and puts their property into it. The trustor allows the trustee to hold a legal or equitable interest in property, not for the benefit of the trustee but the beneficiary.
The trustee of a trust is the person who holds and controls the property inside the trust for the beneficiary. The trustee’s duty is to maintain the trust and they have onerous duties to abide by the rules and terms of the trust deed.
A trust deed instructs how the trust assets can be used, and the trustee is legally bound to carry out those instructions. The assets may only be used according to these instructions and for the nominated beneficiaries.
If a trustee is found to be misusing assets they may be removed and subjected to legal action.
The decision to act as a trustee should not be taken lightly.
A beneficiary of a trust is a person or entity for whose benefit the property is held. The beneficiary can receive the property in many ways. For example, they can receive the property outright, as a percentage incrementally over time, or as payment for expenses over the beneficiary’s lifetime.
How the trust assets are disbursed depends on the reason(s) for the trust.
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Types of trusts
HOW WE Help
How we can help
Trust disputes are a complicated area of law. Our trust dispute lawyers assist clients with all types of disputes, from minor disagreements that can be resolved through mediation to complex litigation matters involving extensive court proceedings. If you’re an unfairly treated beneficiary of a trust or a trustee accused of breaching your responsibilities, contact Gibbs Wright about your trust dispute today. We offer a free, confidential, no-obligation consultation.
Frequently asked questions
Why choose Gibbs Wright Litigation Lawyers
At Gibbs Wright, our trust lawyers have extensive experience in handling all types of trust dispute matters, including caveats, estate and breach of responsibilities. Whether you are a trustee, trustor or beneficiary, we have the skills and experience necessary to help you achieve the best possible outcome.
- Commercially viable outcomes
- Dedicated litigation firm
- Outstanding client satisfaction
- High success rate
- Direct contact with your lawyer
- Brisbane-based litigation team