Shane Smith Law
980-246-2656
about us about us

What is Breach of Fiduciary Duty?

Once a person has accepted the appointment of a trustee, a fiduciary relationship is established between the beneficiaries of the trust and a trustee. Because the trustee is charged with the responsibility of managing the estate assets—which likely includes large sums of money—the trustee has a legal duty to act in good faith and in the best interest of all beneficiaries.When an individual fails to uphold the specific duties trustees are required to do under the law, that trustee can be accused of breach of fiduciary duty in Georgia, which can include:
  • Theft. This occurs when the trustee steals money from the estate or undervalues liquidated assets and pockets the difference.
  • Fraud. This happens when a trustee sabotages the trust, accepts bribes, hides information, or uses the assets for self-interest.
  • Excessive fees. Trustees are allowed reasonable fees for their services. When a trustee collects too much money for his or her time and efforts, the trustee may be guilty of charging the estate excessive fees.
  • Incompetence. When a trustee fails to distribute the assets of the estate within a specified time, he or she can be guilty of incompetence or dereliction.

When trustees mishandle funds, invests money for their own interests, or fails to administer the trust properly, a trustee can face a surcharge action and removal as the trustee. In order for this to happen, the beneficiaries will want to bring a lawsuit alleging breach of fiduciary duty in Georgia. When fraud, theft, negligence, or incompetence has occurred and a trustee did not live up to the high standard of honesty and accountability that he or she was held to, beneficiaries need to seek legal counsel.

A Legal Claim for Breach of Fiduciary Duty

Breach of fiduciary duty by a trustee may have occurred if an individual did not fulfill the legal obligation he or she was appointed to carry out. When an abuse of trust has happened, the trustee can be held legally responsible. Generally, a claim can be brought by any of the beneficiaries against the trustee. However, there are time limits for these types of claims, which is why it is important not to delay speaking with a lawyer about your concerns.

For a free legal consultation, call 980-246-2656

If you believe that a trustee is mismanaging the estate or abusing his or her position, you may have a right to pursue legal action against the trustee. Contact a lawyer to learn more about taking the proper action in your specific situation. For help, call a skilled Georgia trust litigation lawyer at Shane Smith Law (980) 246-2656 for a consultation today.

Call or text 980-246-2656 or complete a Free Case Evaluation form

IN PAIN? CALL sHANE!

Please fill out the quick contact form,
WE WILL CONTACT YOU WITHIN 24 HOURS!

    By clicking the checkbox labeled with the opt-in terms and conditions and then clicking submit, contacts will agree to receive SMS messaging

    Our Promise To You
    solutions

    Providing Answers & Solutions

    We understand that this can be a scary and overwhelming time. We pride ourselves on providing you with the answers you need to make educated decisions about your case. Each step of the way we want to ensure you are fully aware and on board with the trajectory of your case.

    personal-injury

    Solely Focused on Personal Injury

    Unlike other firms, our ONLY focus is helping individuals and families who have been wrongfully injured. We dedicate all of our time, efforts, and resources to those who have been injured because of someone else's negligence.

    case

    No Case is too Big or Small

    When you have been injured, whether it's a small accident or a major one, our team dedicates the same amount of professionalism and commitment to maximize your result. Small or large we are committed to getting you a good and fair settlement.

    recovery

    Focused on Your Recovery

    At Shane Smith Law, we care about you, the individual. We genuinely want you to feel better and get good treatment. Thus, we not only help you obtain results, but we also help you obtain quality doctors and providers.