Breach of Fiduciary Duty? We Can Help

A breach of fiduciary duty could have very serious consequences for those affected by it. The business venture or beneficiaries affected by the breach may lose a significant amount of money or otherwise suffer harm. Fiduciaries who do not uphold their important legal responsibilities can be sued in court and even removed from their positions. Take your potential breach of fiduciary duty claim to lawyers who will handle your case with the seriousness and attention to detail that it deserves.

At Henke, Williams & Boll, our Houston litigation attorneys help clients identify and resolve breach of fiduciary duty claims. We are familiar with the duties that fiduciaries owe to their principals, clients, or beneficiaries. When you come to us, you may have questions about your rights concerning the fiduciary relationship. Our legal team will take the time to explain your rights and your possible paths forward with the breach of fiduciary duty.

What Is a Breach of Fiduciary Duty?

One of the steps our lawyers will take in evaluating your case is determining whether there has been a breach of fiduciary duty. A breach occurs when a fiduciary (described below) violates a specific duty assigned to him or her by law. Examples of these duties include the duty of care and the duty of loyalty. Fiduciaries owe these duties to beneficiaries, principals, or clients – people on whose behalf the fiduciaries are acting. A breach may occur when a fiduciary acts irresponsibly or fails to act in a principal’s best interests.

Breach of Fiduciary Duty Examples

Here are some examples of possible breaches of fiduciary duty:

  • A trustee of a trust uses trust assets to make a profit for himself personally, harming the trust beneficiaries
  • A corporate director urges the other directors to rent office space from his son-in-law rather than evaluating several possible office spaces
  • An accountant hastily fills out tax returns for a client, leading to expensive penalties for the client
  • A lawyer reveals confidential client information without permission, hurting the client’s case

As you can see, a breach of fiduciary duty generally involves someone in a position of trust violating that trust for personal gain or due to irresponsibility. Fiduciaries come in many different forms, and the duties that they owe to their principals may vary. We suggest that you consult attorneys experienced with breach of fiduciary duty claims to learn more about your specific situation.

What Is a Fiduciary? Learn More from Henke, Williams & Boll

You may wonder who exactly counts as a fiduciary. Fiduciaries are people in positions of trust acting on behalf of other individuals (the principals, clients, or beneficiaries).  A principal entrusts sensitive matters, such as financial, legal, or business affairs, to a fiduciary. Someone serving in a fiduciary capacity is expected to act in the principal’s best interests at all times. Examples of people who often owe fiduciary duties include:

  • Trustees of trusts
  • Executors of estates
  • Directors of corporations
  • Accountants
  • Financial brokers and some other financial professionals
  • Guardians and conservators
  • Lawyers

Fiduciaries are often professionals with extensive education. Despite professional requirements of integrity, sometimes fiduciaries fail, intentionally or through negligence. Breaches of fiduciary duty, even something that appears to be a simple mistake or small issue, could cause serious financial damage.

We Understand the Damage a Breach of Fiduciary Duty Causes

Our litigation attorneys meet with clients who have been harmed by breaches of fiduciary duty. We assess the unique circumstances surrounding a client’s claims, and then we provide practical solutions. In a breach of fiduciary duty case, you may need help handling litigation against the fiduciary. Or you may have other options for moving forward. Our attorneys have experience handling breach of fiduciary duty litigation claims. We can advise you on how to proceed.

Contact Henke, Williams & Boll for Breach of Fiduciary Duty Claims

As experienced Houston business lawyers, we help our clients find the best solutions possible to their conflicts. Our lawyers can tailor a plan of action to your unique situation using our knowledge of fiduciary duty claims and business litigation. Call (713) 936-5521 or use our convenient Contact Form to set up a consultation with Henke, Williams & Boll.

 

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