Breach of Fiduciary Duty Claims

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Breach of fiduciary duty cases requires careful analysis of all the facts and analysis whether you are a beneficially who want to raise this claim, or you are facing allegations of breach of fiduciary duty. Either way, we have attorneys who will take a principled approach towards serving your needs.

There are hundreds of ways in which a fiduciary may breach the duties correlative to their status. This includes;

· Mismanaging, or misappropriating assets within an estate

· Negligence when it comes to timely reporting to beneficially or other interested parties including the court

· Not honoring the contents of trust, will or power of attorney

· Abuse of compensation

· Failing to help mediate disputes

· Conflict of interest

· Failing to act to actions such as failing promptly to liquidate stocks or bonds and much more

Many at times, these claims involve a fiduciary who is unaware of his or her responsibilities. However, such should not be an excuse and won’t hold especially for co-operate related fiduciaries. Whether you need to bring up a claim against a fiduciary of you have been named in a lawsuit, it is more than important to get an experienced attorney. We encourage that you seek legal guidance from Von Esch Law Group fiduciary duty attorney right away.

We will help you adhere the standard required and answer all questions you have about how to perform your duties correctly and advise you on the way forward when an issue arises concerning beneficially rights. We will also help you follow direction related to administration of an estate, and we will make sure that you are able to fulfill all your duties related to reporting and keeping interested parties reasonably informed.

If there is a conflict of interest when you are named as a beneficially to an estate, we will help you avoid or deal with any accusations of breach of fiduciary duty claim. We can also help challenge executor compensation if or when an executor or a trustee fails to perform his or her duties. Our attorneys can also handle breach of fiduciary duty claims in other legal ‘arenas’ such as civil litigation between directors, officers, partners, and shareholders.

We understand how the impact on such a claim will affect you, and we always take decisive action to protect your reputation your business reputation and profitability. We also strive to maintain family relationships if desired or when it possible.

Breach Of Fiduciary Duty Claims – How To Avoid Them and How To Resolve Them

What Is A Breach Of Fiduciary Claim?

A breach of fiduciary duty claim arises when a person who is trusted to handle certain affairs according to a prescribed agreement fails to do so. This is just one element of a claim; it is also necessary to prove that the fiduciary’s actions were contrary to the interests of the person for whom the fiduciary has responsibility. Another element of a breach of fiduciary claim stems from the failure of the fiduciary to provide their best efforts in protecting the interests of the person they have agreed to serve.

Although this is an overview of the fiduciary’s responsibility, it does capture the essence of a fiduciary’s responsibilities. Therefore, it is essential that the person who agrees to accept fiduciary responsibility fully understands the responsibilities, and these should be clearly stated in a written document. Courts at every level have ruled that a fiduciary is held to a high standard of ethical conduct, the highest standard of honesty, and they must avoid even the appearance of obtaining a personal benefit at the expense of the person for whom they are acting.

However, courts have ruled that the fiduciary must exercise all of the skill, diligence, and care at their disposal. Some legal experts suggest that this can be a problem for a fiduciary because these requirements are open to broad interpretation. However, the quality of the fiduciary agreement can greatly reduce this problem.

Actions You Can Take If You Believe You Have A Claim Against A Fiduciary

First, it is easier to prove a breach because fraud is not an essential element required to support the claim. You only need to show that the fiduciary could have taken advantage of their position for their own personal gain, and that they did so.

Simply stated, a breach of fiduciary duty occurs when the fiduciary acts in their interest rather than your interest. A fiduciary cannot obtain personal benefit by the unauthorized use of your assets. A fiduciary cannot subordinate your interests to their interests.

Our attorneys have the experience and the skill to resolve a breach of fiduciary duty claim. We can negotiate a resolution or we can litigate the matter.

Actions You Can Take To Avoid Breaches of Fiduciary Claims

The first action should be to ensure that the expectations of the fiduciary are clearly set forth and understood. This should occur in a written document that is thoroughly discussed between all parties.

The second step should be incorporating the fiduciary’s duties in the minutes of the Board of Directors which will serve to document the expectations of the fiduciary and the acknowledgement of the fiduciary that they fully understand their duties.