Breach Of Fiduciary Duty
When you choose a fiduciary to handle your loved one’s estate, you’re entrusting someone to act in their best interests and put aside their own self-interest. Fiduciaries hold positions of trust and must follow the highest legal and ethical standards.
The Important, Yet Sometimes Thankless Role Of The Fiduciary
A fiduciary, such as an executor, guardian, trustee, or power of attorney holder, has important responsibilities. These include:
- Safeguarding the interests of individuals who have the right to receive the assets from an estate or those named as beneficiaries in a will or trust.
- Being open and transparent with the beneficiaries by sharing all necessary information related to a trust or estate.
- Making decisions with the same level of care and thoughtfulness that an ordinary person would exercise when managing their own affairs.
Being a fiduciary can be a challenging role, and it may not always receive gratitude. However, it is important for safeguarding the interests of those inheriting and ensuring that the estate is managed properly.
If You Suspect Breach Of Fiduciary Duty Or Abuse Of Trust, Act Now!
Disagreements may happen when family members of the deceased question the actions of the fiduciary. Some common accusations include:
- Selling or renting property and using the proceeds for personal gain.
- Overpaying themselves for the services they provide as a fiduciary.
- Requesting reimbursement for unreasonable expenses.
- Making poor investment decisions.
Different perspectives on what is considered reasonable can lead to disagreements between fiduciaries and beneficiaries. One party may view a particular strategy as responsible, while the other party may consider it too cautious or risky.
If You Suspect Breach Of Fiduciary Duty Or Abuse Of Trust, Act Now!
For more information on breaches of fiduciary duty, fill out our online intake form or call 203-908-3100 for a free initial consultation to discuss your specific needs.
