Count on us for fiduciary litigation.
A fiduciary relationship exists when a person places special faith, confidence and trust in another person to act in his best interest. The duty to act in the best interest of another is called a fiduciary duty. There are many types of fiduciaries including, but not limited to, Trustees, Executors, Administrators, and Agents acting through a Power of Attorney.
A Trustee has a fiduciary duty to the beneficiaries of a Trust. A Trustee may have breached its fiduciary duty by:
- Failing to follow the terms of the Trust
- Mismanaging the assets of the Trust
- Failing to distribute the trust assets in accordance with the Trust Terms and law
An Executor/Administrator has a fiduciary duty to the beneficiaries and lawful creditors of an Estate. An Executor/Administrator may have breached its fiduciary duty by:
- Embezzlement Estate funds
- Commingling of estate funds with other funds
- Failure to properly account for assets of the Estate
- Failure to distribute estate assets in accordance with the Will or the laws of intestacy
An Agent pursuant to a Power of Attorney has a fiduciary duty to its principal (the person who executed the Power of Attorney). An Agent may have breached his fiduciary duty by:
- Failing to act in accordance with the power of attorney
- Gifting property to himself or to others.
If you think a fiduciary is not acting in the best interest of fiduciary relationship’s beneficiaries, you should contact an attorney to ascertain your legal options.