Fiduciaries have a legal responsible to take care of money or other assets for someone else
What is a fiduciary? A fiduciary is someone who holds a legal or ethical relationship of trust with one or more other parties and who has a legal responsibility to take care of money or other assets for such persons. The following persons may be a fiduciary depending on the circumstances:
- Accountants – for their clients
- Agents or attorneys-in-fact (under an operative power of attorney, or otherwise) – for their principals
- Attorneys – for their clients, or possibly for third party (intended) beneficiaries
- Conservators – for conservatees
- Executors – for estate beneficiaries
- Family members – for each other
- Financial advisors – for their clients
- Real estate brokers and agents – for their clients
- Stock brokers – for their clients
- Trustees – for trust beneficiaries
Anyone can fall victim to the misconduct of an unscrupulous fiduciary. Unfortunately it occurs all to often. Complaints against fiduciaries for having abused their positions of trust and confidence in order to further their own agendas or financial self-interests are common.
Likewise, it is not uncommon for a disgruntled family member or hopeful beneficiary to sue a fiduciary for what they perceive as misconduct or perhaps just to extract some sort of settlement.
Whether you are or may be involved in fiduciary litigation regardless of whether you are a beneficiary or a fiduciary, you need a qualified estate planning and elder law attorney with litigation experience on your side to resolve whatever legal issue you are facing. If you need a qualified estate planning and elder law attorney with litigation experience to assist you, please contact us today to schedule your free consultation.