Estate plans and powers of attorney require naming someone to act in the best interest of an estate or person. The person who is given this responsibility owes what is called a ‘fiduciary duty’ to ensure that they act with the utmost care with regard to all actions taken on behalf of the estate, trust, or individual. When someone agrees to act as a fiduciary, they are obligated to act with expertise and integrity. The law strictly forbids a fiduciary from acting in any manner contrary to the best interests of the trust, estate, or person. In particular, a fiduciary is prohibited from exercising in a capacity that is calculated to benefit themselves.
As with anything else, however, people do not always do what they are supposed to do, whether by accident or on purpose. Trustees mishandle funds, and in particular, people operating under a power of attorney make mistakes. If this has happened to you or a relative, we can help. We have more than 16 years of litigation experience and have successfully litigated a number of breach of fiduciary actions.