Breach of Fiduciary Duty
A fiduciary is a person or entity that has been entrusted with certain financial and/or ethical responsibilities on behalf of another party. While bankers, business advisors and accountants are all fiduciaries, so too are the executors of wills and the trustees of trusts who have been endowed with the duty to impartially carry out the terms of the will or trust. When fiduciaries fail to live up to their duties, beneficiaries can bring claims against these fiduciaries and seek damages for their losses.
At J R Phillips & Associates, our Denver breach of fiduciary duty lawyers are experienced at representing beneficiaries who believe that trustees, executors or other fiduciaries have failed to live up to their duties. We also represent fiduciaries who have been accused of breaching their duties and can help successfully resolve any dispute or claim alleging a breach of fiduciary duties.
Breach of Fiduciary Duty: Examples of Common Breaches
Some ways in which fiduciaries may breach their duties when it comes to administering wills and trusts include by:
- Comingling personal assets with the assets of a trust or an estate
- Mishandling or improperly investing the assets of a trust or an estate
- Favoring some beneficiaries over others (i.e., failing to impartially deal with beneficiaries)
- Failing to record the financial activities and operations of the trust or estate or failing to keep detailed and accurate records of these activities
- Failing to distribute the assets of a trust or an estate in a timely manner (or at all)
- Taking money or other assets from the estate or trust
- Failing to act in accordance with the laws applying to the administration of estates and trusts
- Failing to provide beneficiaries with information regarding the operations of the estate or trust (especially when beneficiaries have specifically requested this information)
- Conducting any operations that conflict with the best interest of the beneficiaries
- Failing to take any action regarding the administration of the estate or trust.
Proving Breach of Fiduciary Duty
When a breach of fiduciary duty has occurred, proving this breach generally involves establishing that:
- A fiduciary duty existed.
- The duty was owed to the person (or party) alleging the breach of fiduciary duty.
- A breach of fiduciary duties occurred.
- The breach of fiduciary duty resulted in damages and losses.
Colorado Breach of Fiduciary Duty Attorneys at J R Phillips & Associates, PC
When you suspect that a fiduciary has breached his or her duties – or if you are a fiduciary who has been accused of breaching your duties, contact the J R Phillips & Associates, PC. We are skilled at:
- Providing a thoughtful, comprehensive approach to breach of fiduciary duty claims
- Upholding the interests of our clients
- Successfully resolving disputes regarding breach of fiduciary duties.
Our clients can always trust us to provide them with the highest quality of legal services to help them obtain the best possible outcomes to their disputes and important legal matters.
We encourage you to meet with us so that you can learn more about your options and our services. To schedule an initial consultation, call us at (303) 741-2400 or email us using the contact form at the bottom of this page.
From our offices in Denver, we serve clients throughout the southwest and southeast Metro Area, including (but not limited to) people in Highlands Ranch, Littleton, Castle Rock, Parker, Aurora, Greenwood Village, Englewood, and Centennial.