Navigating Fiduciary Duties in Probate and Trust: Insights from Litigator Matt Owens

In the intricate world of probate and trust, where fiduciary duties reign supreme, having a seasoned guide can make all the difference. In this insightful interview, we delve into the nuances of breach of fiduciary duty with Matt Owens, a distinguished litigator at Sheppard Mullin. Join us as we uncover practical advice and expert perspectives on navigating the complexities of probate and trust administration.

Understanding Fiduciary Duties:

• Fiduciaries, such as trustees and conservators, bear significant responsibilities in managing assets.
• Matt emphasizes the importance of adhering to California law and trust terms to avoid breaches of fiduciary duty.
• Breaches can range from blatant misappropriation of assets to more subtle violations like failure to diversify investments or maintain proper records.

Spotting Breaches and Common Challenges:

• Matt shares insights into identifying breaches, from missing assets in accounts to improper investment strategies.
• He highlights the challenges trustees face, including the need to balance conflicting interests of beneficiaries and make discretionary decisions.

Seeking Legal Guidance and Remedies:

• When faced with suspicions of breaches, beneficiaries can seek legal counsel to investigate and potentially challenge trustees’ actions.
• Matt outlines the process of proving breaches, which often involves forensic accounting and gathering substantial evidence.
• Remedies for breaches may include restitution, interest on damages, and even double damages under certain circumstances.

Navigating Trustee Replacement:

• In cases where trustees are removed due to breaches, Matt advises having a replacement ready to minimize disruptions.
• He recommends considering professional fiduciaries or corporate trustees for neutral administration, especially in contentious family dynamics.

Matt’s Journey and Gratitude:

• Reflecting on his legal career, Matt shares how he found his niche in probate and trust litigation.
• Grateful for meaningful client relationships and the opportunity to make a difference, he underscores the importance of staying true to one’s expertise.

Conclusion:

As we conclude our insightful conversation with Matt Owens, it’s evident that navigating fiduciary duties requires expertise, diligence, and a deep understanding of legal intricacies. Whether you’re a trustee seeking guidance or a beneficiary safeguarding your interests, having a trusted advocate like Matt can provide invaluable support in safeguarding legacies and ensuring justice in probate and trust matters.

Notable Quotes:

“Sometimes it’s not crystal clear what the right answer is, right? Because there’s not a probate code section to deal with every single issue.”

Connecting with Matt Owens:

LinkedIn: https://www.dhirubhai.net/in/matt-owens-462a7124/

Website: Matthew Owens | Sheppard Mullin

DISCLAIMER: The Probate Realtor? Matias Baker Masucci is a licensed real estate broker in California DRE # 02054763. Any legal information provided is for informational purposes only and NOT for the purpose of providing legal advice. Contact an attorney to obtain advice with respect to any particular legal issue or problem. We make no guarantees as to the accuracy of any information.