Breach of Fiduciary Duty
A breach of fiduciary duty probate attorney in Philadelphia is the first person you should call when you believe that a person appointed to represent your loved one has not done so appropriately. A fiduciary is a professional entity or a person who has been appointed to a position of responsibility and trust for another individual. The fiduciary duty is to serve the best interests of the other party. This means that an executor of an estate, for example, has a fiduciary responsibility to act in the best interest of the beneficiary and a trustee has a fiduciary responsibility to serve the best interests of the trust beneficiaries.
You can initiate a breach of fiduciary duty lawsuit against multiple people, including an executor.
You may need to initiate a breach of fiduciary duty lawsuit if you believe that the fiduciary acts in the best interests of someone else or of in the best interests of themselves. There are many different types of people who have fiduciary duty and a Philadelphia breach of fiduciary duty dispute lawyer can help you to figure out which one applies in your individual case. A Philadelphia breach of fiduciary duty dispute attorney might initiate a lawsuit against administrators, executors of estates, personal representatives, agents with powers of attorney, guardians and trustees. Many professional fiduciaries will hire an estate planning lawyer to give them advise and to avoid conflicts down the road. Fiduciaries must not use trust or estate assets for their personal gain.
All decisions made by the fiduciary have to be free of conflict and their own self-interest. When it is unclear if the fiduciary is serving in the party’s best interest, the support of a knowledgeable estate planning attorney can help to clarify. A breach of fiduciary duty case can be lodged against a person who has acted in their own best interests or in the best interests of someone outside of the person to whom the duty was owed. In order to prevail in a breach of fiduciary duty claim with the help of a lawyer, you must produce evidence to the judge that there was a fiduciary relationship, that there was a breach of that relationship, and the breach caused damages financially that the court can resolve. Breach of fiduciary duty can be related to all people who have a fiduciary responsibility to other individuals. If you have ample evidence that the person who was supposed to act in your best interests or in the best interests of a loved one, chose not to do so and chose instead to represent their own best interests, you need to gather this evidence and present it directly to an attorney.
You have a limited period of time in which you can initiate a breach of fiduciary duty lawsuit, and in particular if you believe that assets are being diverted for the personal interest of the executor, power of attorney agent or someone else, you need to provide this evidence as soon as possible to the court so that you can initiate a breach of fiduciary duty claim. With so many complex issues involved in your case, you cannot afford to try to handle it on your own or to work with an attorney who does not have ample experience in probate disputes. You must successfully prove your claim in front of the judge in order to move forward with a legal case like this and making mistakes in your case can have devastating consequences. Make sure that you first consult with a lawyer before initiating such a lawsuit so that you fully understand what is involved in triggering such a case.
- What to do if an Executor is not Doing Their Job
- Common Questions About Executor Removals
- Common Examples of Breach of Fiduciary Duty
- Executor Breach of Fiduciary Duty
- Power of Attorney Agent Breach of Fiduciary Duty
- Trustee Breach of Fiduciary Duty
- Executor Responsibilities Lawsuit
- Fiduciary Bond Requirements
- How to File a Breach of Fiduciary Duty Lawsuit
- Liability for Distributees and Fiduciaries
- Proving Breach of Fiduciary Duty
- Standing to Petition to be Appointed Fiduciary
- Surcharge Actions