How to File a Breach of Fiduciary Duty Lawsuit
Do you believe that a person who was appointed to act in your best interests or in the best interests of other beneficiaries, failed to do so and put you all in harm's way or reduced your opportunities financially because of their illegal behavior? If so, you might have grounds to initiate a breach of fiduciary duty lawsuit. A Philadelphia breach of fiduciary duty lawsuit lawyer will help you to gather the necessary evidence to show that a breach of fiduciary duty has existed. Like many claims, including contesting a will, you need help from a lawyer.
Usually by the time a person initiates a lawsuit like this, they already have evidence showing that the person did not act within their best interests. But it can be especially challenging to initiate a lawsuit like this without the support of a Philadelphia breach of fiduciary duty lawsuit lawyer. A breach of fiduciary duty lawsuit attorney in Philadelphia will tell you whether or not there exists grounds to initiate such a lawsuit and how you can best prepare yourself to move forward. There are many different possible outcomes of a breach of fiduciary duty lawsuit, including removal of the person from the position of power, a judge's order compelling the person to perform specific duties, or financial damages linked to the illegal behavior. In order to arrive at an outcome in your case like this, however, you need the support of an attorney to initiate the of fiduciary duty case that will be successful. There are three primary elements that as the person bringing forward the case, you must prove in order to be successful. First of all, you must show the judge that you had a fiduciary relationship with the person.
A trustee of a trust, for example, has a fiduciary responsibility to the beneficiaries of that trust to protect their best interests. If it can be shown that the person appointed in this position failed to do so, then this would initiate a lawsuit. The primary element of initiating such a legal claim, however, is that the fiduciary relationship did exist. Consult directly with your attorney to identify whether or not a fiduciary relationship did indeed exist. The second element of a successful breach of fiduciary duty claim has to do with the alleged breach. This is one of the most complicated aspects of your case and is one of the leading reasons why it is recommended you consult with a lawyer about the strength of your legal claim. You must indicate that there was a breach of that fiduciary relationship. You need evidence in order to support this claim and the very act of filing the lawsuit can trigger a person who is appointed in this position to show evidence of where the funds have gone and further information about why they made those decisions. This is often the crux of a breach of fiduciary duty lawsuit. Finally, you must be able to show that the breach caused financial damage that the court is capable of rectifying.
Your initial consultation with an attorney will give you more information about whether or not this applies to your case and how you should proceed if you believe that a breach of fiduciary duty has occurred. It can be overwhelming and devastating to realize that you have suffered from a breach of fiduciary duty but the support of an attorney can help you to recover compensation owed to you because of another person’s illegal behavior. A person who is appointed to act in these important positions might try to take advantage of you or others and make decisions that are in their best interests and not yours. This is why you need an attorney who will not back down and who will fight for you.