When trustees and executors find themselves in litigation against the very beneficiaries to whom they owe fiduciary duties, the legal, ethical, and cultural stakes become uniquely complex. This roundtable session will explore how fiduciaries navigate these high-conflict scenarios across a range of jurisdictions.
The discussion will examine how fiduciary duties evolve or come under strain when disputes arise, with particular attention to variations among U.S. states as well as between common law and civil law systems worldwide. Panelists will address key litigation dynamics, including removal and surcharge claims asserted against fiduciaries, and how differing legal standards and procedural frameworks shape outcomes.
The session will also explore the challenges fiduciaries face when managing litigation involving third parties, especially where beneficiaries hold divergent or competing interests. We hope to share insights into how fiduciaries balance neutrality, advocacy, and risk in these circumstances.
In addition, the session will compare mechanisms available in different jurisdictions for fiduciaries seeking court guidance, including petitions for instructions and similar relief when co-trustees or beneficiaries are at odds. The discussion will further consider the extent to which fiduciaries may access trust or estate assets to fund legal representation in contentious matters, highlighting both practical considerations and jurisdictional limits.
Speaker:
- Adam F. Streisand, Partner, Sheppard