Loveland Breach of Fiduciary Duty Lawyers
Holding Fiduciaries Accountable
Dealing with the passing of a loved one is challenging enough; if you find you’re also in a situation where legal duties are not being fulfilled according to a loved one’s wishes, we’re here to help.
As breach of fiduciary duty lawyers in Loveland with over 40 years of combined experience, we know that complicated situations can arise despite best intentions. Don't navigate the following issues on your own:
- Conflicts of interest
- Improper disclosures
- Last wishes not being honored
Lean on our expertise during this challenging time to find resolutions that help all parties move forward. Together, we’ll ensure personal representatives manage the estate according to the deceased’s wishes.
The Specific Ways We Can Help
Dealing with fiduciary duty breaches is challenging, and we exist to relieve the stress you may be feeling. Our Loveland estate lawyers advocate on your behalf by:
- Handling compensation negotiations: If you’ve experienced a financial loss due to a breach of fiduciary duty, we’ll work with the personal representative or executor to account for and repay those losses.
- Petitioning for a temporary fiduciary: Some circumstances require immediate action; in those cases, we’ll petition to remove the current executor, stressing the legal importance of appointing a temporary one.
- Working to void damaging actions: If, in failing to fulfill duties, an action is taken that negatively impacts the estate or beneficiaries, we'll take legal measures to reverse it.
- Challenging compensation rights: Personal representatives are often compensated for their services. If they fail to fulfill their obligations, we can challenge their right to compensation.
- Placing assets under court supervision: When assets are being mismanaged or disputed, our team can petition for a constructive trust that temporarily puts those assets under court supervision.
Why Jorgensen, Brownell & Pepin, P.C.?
Working with our Loveland breach of fiduciary duty lawyers means choosing expertise, knowledge, and compassionate support. With:
- Approaches tailored to circumstances
- Over 40 years of combined experience
- A track record of satisfied clients
- Comprehensive assistance
You can ensure that your loved one's estate is managed according to their final wishes by scheduling a consultation today. Get the legal guidance you deserve from a team of caring professionals.
Frequently Asked Questions
What are the duties of a personal representative?
A personal representative is always appointed by the court, even if the deceased left a will. Once appointed, the personal representative has several duties. One of the most important is to put the interests of the estate in front of the personal representative's own interests, which is called fulfilling a fiduciary duty. The personal representative may not favor one heir or beneficiary over another, and they must do their deliberate best to follow the instructions laid out before them to the letter.
The personal representative of an estate must:
- Collect and inventory the assets of the estate
- Manage the assets during the probate process
- Pay the final bills of the deceased
- Make distributions to the heirs or beneficiaries
What constitutes a breach of fiduciary duty?
Breaches in fiduciary duty occur when a trustee, personal representative, executor, custodian under a UTMA account, guardian, conservator, financial and medical power of attorney fails to act in the best interest of the beneficiaries by:
- Mismanaging assets
- Failing to distribute assets according to the will or trust
- Acting with a conflict of interest.
Our team can help by evaluating the actions of the fiduciary against Colorado probate laws and standards of conduct to determine if a breach has occurred.
How do I prove a breach of fiduciary duty in court?
It requires showing that the fiduciary had a duty to the beneficiaries, that duty was breached through their actions or inactions, and the breach resulted in harm or loss to the estate or beneficiaries.
What can I do to address a breach of duty?
Remedies may include removal of the fiduciary, restitution or compensation for losses incurred due to the breach, and sometimes punitive damages if the breach involved fraud or malice. Legal guidance is crucial to navigate the complexities of such cases and achieve a fair outcome.
Can a fiduciary be held personally liable for losses to the estate?
Yes, if it is proven that the fiduciary's breach of duty led to financial losses for the estate. Our team can help by accurately assessing the financial impact of the breach and pursuing appropriate legal action to recover damages.
Ensure Last Wishes Are Respected
If you believe a personal representative is in breach of their fiduciary duty, time is of the essence. Protect assets and a Loveland estate by reaching out to Jorgensen, Brownell & Pepin, P.C. today.
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