Southern Pines Fiduciary Attorney

Fiduciary litigation refers to legal disputes that arise when a fiduciary — someone entrusted with the responsibility to act in the best interests of another person or entity — fails to fulfill their duties. These duties can involve managing financial assets, overseeing trusts, probating a will, caring for a disabled person, or acting as a corporate officer. Fiduciaries may include trustees, executors, guardians, corporate directors, or financial advisors, and their obligations are held to a higher standard of care and loyalty than a normal layperson.

When fiduciaries breach these duties — whether through negligence, fraud, self-dealing, or mismanagement — it can result in significant financial loss, emotional distress, and legal complications. Fiduciary litigation addresses these violations by seeking to hold the responsible party accountable, protect the affected parties’ rights, and recover damages.

How an Attorney Can Assist

A skilled attorney specializing in fiduciary litigation can help in various ways. They can represent clients in disputes involving:

• Will and Trust Caveats: If a testator or trust grantor was unduly influenced or did not have the legal capacity to execute estate planning documents such as wills and trusts, a lawyer can aid in gathering evidence to show the appropriate court that a will or trust should be invalidated due to the wrongdoing of another.
• Breach of Trust: When a trustee or executor fails to uphold the terms of a trust or will, a lawyer can guide you through legal action to ensure your interests are protected.
• Mismanagement of Assets: If a fiduciary mishandles or misappropriates assets, an attorney can help seek restitution or damages.
• Conflict Resolution: Fiduciary disputes often involve family members, business partners, or co-investors. A lawyer can negotiate on your behalf to resolve conflicts outside of court or advocate for you during litigation if necessary.
• Accountability and Enforcement: In cases of self-dealing or fraud, an attorney can pursue legal remedies to hold the fiduciary accountable and enforce corrective measures.
• Defense of Fiduciaries Accused of Wrongdoing: If you are a fiduciary who has been accused of breaching your duties, our attorneys can provide defense against allegations of wrongdoing. We can work to protect your reputation, help you navigate the legal process, and build a strong case to defend against claims of negligence, fraud, or self-dealing.
• Elective Share Claims: In North Carolina, a spouse cannot totally disinherit the surviving spouse. If one spouse fails to bequeath or otherwise provide a certain portion of their estate, as defined by statute, for the surviving spouse through a will, trust, or other means, the surviving spouse may make an “elective share” claim against the deceased spouse’s estate. However, this right can be waived before death if done correctly, often appearing in a legitimate prenuptial agreement.

Whether you are pursuing a claim against a fiduciary for breach of duty or need defense against allegations of wrongdoing, our experienced fiduciary litigation attorneys are here to guide you through the complexities of fiduciary law. We are committed to protecting your financial interests, legal rights, and reputation every step of the way. Let us help you navigate these often sensitive and complex matters with confidence and expertise.

In many instances, we may be able to assist clients by contacting the fiduciary in question and seeking corrective measures before any court actions. Conversely, we can aid fiduciaries in explaining their actions to beneficiaries to prevent litigation or help them correct any deficiencies to avoid legal disputes.

However, if litigation is necessary, our experienced attorneys are prepared to represent clients before the Clerk of Superior Court, the ex officio judge of probate in North Carolina, or the Superior Court as necessary. We will first work toward a family settlement agreement or mediated settlement agreement if the parties are willing to resolve the dispute amicably. If that is not successful, then we will pursue the appropriate remedies through the judicial system.

We recognize that emotions often run high in these types of disputes, especially when family is involved. Feelings can be hurt when someone believes their rights have not been honored or that they have been mistreated. Our extensive experience allows us to provide objective advice so that our clients can resolve their disputes in a fair and efficient manner.

Contact Our Southern Pines, NC Fiduciary Attorneys Today

Austin M. Chestnut is our primary fiduciary litigator with 20+ years of experience. Austin has drafted numerous wills and trusts and has administered many estates and trusts in his career. This gives him unique insight into how these matters should be handled correctly and allows him to identify where things may have gone astray. He has represented both fiduciaries and beneficiaries and has successfully resolved many disputes without the need for a full jury trial. Contact us today for a consultation!