Breach of Fiduciary Duty Claims in Phoenix
Our Experienced Trial Attorneys Can Help
A fiduciary duty is an obligation to act in another’s interest. The fiduciary is the person or company that bears the responsibility to act in the interests of the other party, the principal. This relationship exists in specific scenarios and is often legally binding and enforceable, meaning a fiduciary that violates his or her duty could be held accountable in court.
- Trustees and beneficiaries (trusts)
- Guardians/conservators and wards (guardianships/conservatorships)
- Personal representatives and beneficiaries/heirs (estate administration and probate)
- Attorneys in fact and principals (powers of attorney)
If one of these trusted individuals has acted in violation of their fiduciary duty, you may have grounds for a case that would offer a remedy, such as compensation for financial losses, or the distribution of property to which you should have been entitled. Our lawyers at Taylor & Lihn, PLLC in Phoenix can offer experienced representation to expose a breach and help you recoup your losses. We take our fiduciary duty to our clients very seriously and utilize every tool at our disposal to seek an ideal result for every person we represent.
To find out more, call (602) 900-9860 for a free, confidential consultation.
What Is a Breach of Fiduciary Duty?
A breach of fiduciary duty may include any act (or failure to act) that violates the interests of the principal and benefits the fiduciary or a third party instead. When a fiduciary puts his or a third party’s interests before the interests of the principal, this is a breach of fiduciary duty.
An example may be a person who was given the responsibility of managing a family member’s financial affairs as an attorney in fact under a power of attorney. If that person begins using the family member’s money for his or her own expenses instead of on the family member’s care, that would be considered a breach of fiduciary duty.
What Are the Remedies for a Breach of Fiduciary Duty?
Depending on the situation, a person who has been adversely affected by a breach of fiduciary duty may be able to come forward with a civil lawsuit in pursuit of damages.
Damages for a breach of fiduciary duty may include:
- Financial losses, directly or indirectly caused by the breach
- Mental anguish, such as pain and suffering
- Punitive damages, meant to punish and make an example out of the offender
With so many variables at play and the sensitive nature of these claims, it is important to choose a legal team that has the resources and skill to competently handle your case. Our Phoenix breach of fiduciary duty attorneys know what’s at stake and believe in putting our clients’ needs first. We can offer the experienced guidance and representation you need – and deserve.