A fiduciary of the estate of a decedent is defined as a person who owes to another the duties of good faith, trust, confidence, and candor. This person must exercise a high standard of care in managing another person’s money and/or property. In Estate matters, a fiduciary can be a person or professional entity, such as a bank, who holds a special relationship of trust and responsibility to another person. Typically, in estate matters, the fiduciary is the executor, personal representative, administrator, trustees or agents.
A breach of fiduciary duty may be as follows:
- Failure to provide required and requested information to the beneficiaries of an estate or trust;
- Embezzlement or fraud committed by the executor or trustee;
- Fraud by transferring money or property to a third party without notice to the beneficiaries;
- Intentional negligent oversight or investment of assets held by an estate or trust;
- Failing to conclude the administration of the estate in a reasonable time;
- Removal of property from the estate without approval by the beneficiaries;
- Failure to follow the terms of a trust, including failure to make distributions to the beneficiaries in a reasonable time;
- Failure to carry out the instructions and wishes of the decedent as described in the will, and;
If you believe a fiduciary has committed a breach of fiduciary duty, the attorneys at Kilgus Law Offices, LLC can help you analyze your case and bring your matter before the Court.
Contact us to set up a consultation at 570-931-5916.