Firm partner, Yasha Bronshteyn, attended the People Behaving Badly: Trustees and Beneficiaries Abusing Each Other and Settlors program which was presented on September 19, 2014, at the Millennium Biltmore Grand, by the Los Angeles Bar Association-Trust & Wills Section.
The program focused on the common problem of people abusing each other and the legal ramifications of that abuse. The first panel discussed how some trustees abuse their fiduciary responsibilities and how beneficiaries may take advantage of their trustees. The second panel will discuss what constitutes criminal elder abuse, how to report elder abuse in all its forms to the authorities, and what to expect after such a report has been made.
This panel examined conflicts that arise between beneficiaries and trustees regarding administration of trusts. Focus was directed on areas in which conflict often arises, such as asset risk tolerance, asset selection, asset concentrations, discretionary distributions, notice to remainder beneficiaries, the party’s view of their role, and regulatory compliance requirements. Drawing from their numerous years of experience in resolving fiduciary conflicts, the speakers will shared examples of conflicts that have arisen and methods they have discovered which can minimize litigation.