Can a beneficiary of a trust bring a lawsuit against a trustee who allegedly breached fiduciary duties owed to the beneficiary?
California, United States of America
The following excerpt is from Wolf v. Mitchell, Silberberg & Knupp et al., 76 Cal. App.4th 1030, 90 Cal.Rptr.2d 792 (Cal. App. 1999):
6. In Pierce v. Lyman the lawsuit was brought by the trustee who also was a beneficiary of the trust. (Id. at p. 1097.) The alleged wrongdoing had occurred during the tenure of prior trustees. (Id. at pp. 1098-1099.) Thus the court of appeal did not have occasion to consider the standing issue presented here. Nevertheless, the court discussed with approval authorities supporting the view that a beneficiary may bring an action against third parties who have breached fiduciary duties owed to the beneficiary. (Id. at p. 1103.)
6. In Pierce v. Lyman the lawsuit was brought by the trustee who also was a beneficiary of the trust. (Id. at p. 1097.) The alleged wrongdoing had occurred during the tenure of prior trustees. (Id. at pp. 1098-1099.) Thus the court of appeal did not have occasion to consider the standing issue presented here. Nevertheless, the court discussed with approval authorities supporting the view that a beneficiary may bring an action against third parties who have breached fiduciary duties owed to the beneficiary. (Id. at p. 1103.)
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