When You Need A Fiduciary Litigation Attorney
Who Are Fiduciaries?
Fiduciaries hold positions of trust and authority in acting on behalf of another person (or legal entity). They have a legal obligation to place that person’s interests above their own. The following are common examples of fiduciaries.
- Executors or administrators are empowered to manage the estate of the person who has passed away. They must safeguard the estate assets and distribute them in accordance with the terms of the will (if there is one) or court order.
- Trustees are responsible for managing trust assets and making distributions in accordance with the terms of the trust. They must place the beneficiaries’ interests above their own.
- Conservators and guardians have legal authority to act on behalf of someone who is incapacitated and cannot make decisions for himself or herself. Their actions must be consistent with the best interests of the incapacitated person.
- Agents or “attorneys-in-fact,” like guardians and conservators, have legal authority to act on behalf of the person who executed the power of attorney.
What Are Fiduciary Duties?
All fiduciaries have important legal obligations. Specific responsibilities may vary depending on the legal instrument involved, the assets and finances at stake, and other individual circumstances. But all fiduciaries share fundamental duties of:
- Care and diligence in handling assets and managing finances
- Loyalty and impartiality in placing beneficiaries’ interests above their own and treating all beneficiaries fairly, which includes avoiding conflicts of interest
When a fiduciary breaches these duties, he or she may be held personally liable for the resulting harm through a breach of fiduciary duty claim.
Diligent And Caring Representation
At The Elder & Disability Advocacy Firm of Christine A. Alsop, LLC, in St. Louis, our lawyers handle all types of estate and fiduciary litigation for those seeking to bring claims and those seeking to defend against them. Our mission is to provide clients with caring, dedicated representation during times of crisis. We combine a wealth of legal knowledge with a core commitment to placing clients’ needs first.
At our firm, we will take the time to get to the root of the problem. This understanding will allow us to collaboratively develop an effective path toward resolution.
Please contact our fiduciary litigation attorneys at 314-644-3200 to learn more. We handle cases throughout Missouri and Illinois.
In the maze of confusion, there is a solution.