Fiduciary
Fiduciary litigation often arises when those entrusted with managing financial assets fail to act in the best interest of the beneficiaries they serve. A recent case involving Universal Music Group (UMG) and the rock band Limp Bizkit highlights the high stakes of fiduciary responsibilities in the entertainment industry. According to Rolling Stone (via MSN), a…
Read More
A fiduciary duty is a legal obligation to act in the best interests of another person. This duty arises in relationships where one party trusts another to act with honesty and loyalty. These duties can arise by operation of law (de jure) or based on the facts and circumstances of a relationship (de facto). Common…
Read More
These days, many financial advisors are promoting themselves as fiduciaries. But what exactly does that mean? And how can it benefit you? What is a fiduciary? A fiduciary is someone who has a legal obligation to act in the best interests of another person. This means that they must put your needs before their own.…
Read More
Several causes of action may be pled in conjunction with a claim for breach of fiduciary duty, depending on the facts and circumstances surrounding the case. Attorneys should consider the following claims when filing a breach of fiduciary duty cause of action and determine which, if any, also apply to their clients:…
Read More
Breach of Fiduciary Duty: A fiduciary is an individual or corporation to whom property or power is entrusted for the benefit of another. Fiduciaries must prudently care for any such assets, and may also have a number of additional duties, depending on the nature of their fiduciary relationship. …
Read More
As we’ve mentioned in part 1 of this series, trustees are fiduciaries and, as such, trustees owe a variety of fiduciary duties to multiple parties. These obligations include both the duty of loyalty and duty of impartiality, which we will discuss this week. To prove a trustee breached of one…
Read More
Your aging parents just appointed you as their attorney-in-fact– now what? It is important to keep in mind a few simple rules to stay within the bounds of the law. Rule #1: Act in the principal’s best interests. The principal is the person…
Read More
What is fiduciary litigation? Fiduciary litigation encompasses a wide range of legal actions including, without limitation, trust and estate litigation, will contests (also referred to as caveat proceedings), breach of individual and corporate fiduciary duty claims, and guardianship proceedings. Fiduciary litigation is becoming increasingly relevant as the baby boomer generation continues to age. …
Read More