We trust fiduciaries to handle our business arrangements accordingly during our absences, illnesses and/or deaths. When they fail to adhere to proper guidelines of duty, loyalty and care, it can result in costly damages and pain.
When a breach of fiduciary occurs, you can count on experienced probate lawyers at the The Law Office of Silverman, Mack & Associates to protect your assets and restore your property.
Breach of Fiduciary Duty
A fiduciary is someone who acts on the behalf of another person (beneficiary) in his/her absence. Most fiduciaries are professionals appointed to help clients handle business and legal matters. These professionals may include lawyers, accountants, employers, real estate brokers, partners and other business associates.
Although fiduciaries are usually professionals, they do not necessarily have to be. Friends, family members, and even neighbors may be requested to act on the behalf of the beneficiary. This may include managing and protecting property, handling documents and mail items, or making executive decisions for a beneficiary’s life, business, or place of residence.
No matter what sort of relationship you and your fiduciary may have, you deserve to be handled with integrity and virtue. Fiduciaries are obligated to duties of loyalty and care. If you suspect that your fiduciary has violated his/her responsibilities, and have thereby caused you costly damages and suffering, you should contact an experienced fiduciary attorney in Gainesville, FL. A breach of fiduciary duty cause of action may be necessary to prove fraud, or at the very least, that the fiduciary did not uphold his/her duty of care.
In some instances of breach of duty, a court may assess a surcharge action to repay or restore losses to an estate due to mishandling of funds, misappropriation and other negligent or inappropriate actions taken by a fiduciary.
Breach of Fiduciary Duty Complaint
Many different activities constitute breaches of fiduciary.
- Promoting Self-Interests: Fiduciaries are expected to uphold the values and protect the interests of the beneficiary (not his/her own). When a fiduciary engages in activities with the intent to raise his/her own benefits, while disregarding and/or harming the interests of the beneficiary, it is considered a violation of his/her care and loyalty.
- Theft: Theft includes taking and/or distributing a beneficiary’s assets without his/her permission. It may also include releasing or using funds and property that may not be accounted for or known by the beneficiary.
- Fraud: Fraudulent behavior, such as falsified licenses and certificates, and general lies and misrepresentation are serious breaches of fiduciary duties.
- Incompetence: Fiduciaries are supposed to be well-trained and educated within their respective fields. Even family members and friends should (at the very least) be well-versed and knowledgeable of the beneficiary’s desires and how to handle money and property appropriately. Fiduciaries should also be in the right state of mind. The influence of drugs and alcohol can cause a fiduciary to make unwise, even rash, decisions that may severely impact a beneficiary’s life and property.
- Errors in Accounting: Numerical errors are among the most common forms of fiduciary duty mistakes. When figures are not calculated correctly, the damages may become irreversible and permanent.
Gainesville Probate Lawyers
Breaches in fiduciary duties occur at high rates within the state of Florida. Do not allow your property and life to be destroyed. Experienced probate attorneys at the The Law Office of Silverman, Mack & Associates can assist you so that your loved one rests in peace, fully assured that his/her property, assets and business matters will be handled properly.
Contact our office today.