International Trust Litigation: BLI Represents European Beneficiaries in Arizona Suit to Secure U.S. Trust Assets

International Trust Litigation: BLI Represents European Beneficiaries in Arizona Suit to Secure U.S. Trust Assets

June 12, 2014
|
Comments off
|
Stephen L. Bluestone, Managing Director

Stephen L. Bluestone, Managing Director

On behalf of multiple European beneficiaries of a trust executed in Arizona, Bluestone Law International (“BLI”) initiated a lawsuit earlier this year against the trust and trustee seeking a full liquidation of the trust due to the trustee’s alleged fiduciary violation of the trust’s terms. After a recent court hearing, the trustee was ordered to provide an accounting and inventory of the trust’s assets on an expedited schedule, with an eye towards a full liquidation in the coming months. In the interim, the parties are determining an efficient and amicable method to distribute the trust assets in a manner consistent with the trust’s terms and conditions.

The lawsuit centers around the interpretation of a critical clause in the trust prescribing how certain trust property is to be used. After learning from the beneficiaries that certain assets were potentially being used contrary to the trust’s express terms, BLI immediately demanded an accounting and explanation from the trustee, which was not forthcoming. Shortly thereafter, suit was filed and BLI sought to protect the interests of the beneficiaries and preserve the trust property.

Through an initial investigation, BLI was able to obtain a critical piece of information which has been key to the the success of the litigation. BLI was then able to quickly obtain the assistance of a third-party that has led to a resolution of the evidentiary aspect of the case.

After receiving the full accounting from the trustee, BLI anticipates to have the trust fully liquidated and appropriately distributed to the trust beneficiaries. BLI has been led by Stephen L. Bluestone and Gabriel Bluestone in this matter.

For many years, BLI has represented international beneficiaries in trust, estates and probate litigation worldwide. With a long track record of success in litigation, arbitration and via amicable resolution, BLI has become a leader in cross-border trust and estate disputes.