A fiduciary duty is a legal obligation that one party has to another to act in their best interests. This duty is typically seen in relationships where there is a power imbalance, such as between the trustee and beneficiaries of a trust or an executor and the beneficiaries of an estate. When acting as a …
A breach of fiduciary duty occurs when a “fiduciary,” such as the personal representative of an estate, a trustee, or a guardian, fails to comply with the duties created by the nature of their relationship with another person. A fiduciary relationship exists whenever one person places confidence and trust in and is at some level …
If an executor is not communicating with beneficiaries, it can lead to trouble. An executor owes the beneficiaries of the estate they are administering a “fiduciary duty.” This means that the executor must exercise reasonable care and act in the best interests of those beneficiaries. As part of that fiduciary duty, an executor has a …
What To Do If an Executor Is Not Communicating With Beneficiaries? Read More »
A fiduciary duty is a legal obligation for a person in a position of trust and confidence, like a trustee or the executor of an estate, to act in the best interest of another party. If a fiduciary fails to act in the beneficiary’s best interest, they have likely breached their fiduciary duty. An experienced …
Fiduciary conflict of interest claims are very common. Conflicts of interest can be a confusingly grey area for fiduciaries, especially when they are also a beneficiary. Trustees, executors, conservators, and power of attorney agents (also called an attorney in fact) often don’t know they even have a conflict of interest, or have committed any type …
The Fiduciary’s Guide to Conflict of Interest Claims Read More »
Breaches of fiduciary duty and fiduciary abuses unfortunately are more common than you might think, especially in cases involving the elderly and the infirm. Fiduciaries are often granted broad powers over estate funds and assets, and may take advantage of their trusted position for personal profit or gain. If you suspect that you or a …
Any relationship between two parties in a transaction where at least one of the parties is required to act in good faith and for the benefit of the other party is said to be a fiduciary relationship. One of the most common examples of this is that a lawyer retained by a client, the attorney …