Fiduciary Duty Explained

In business and other relationships, a :fiduciary duty" is often defined as an obligation to act and conduct oneself "in the best interests" of another party. One example of this kind of relationship is in the corporate world. Directors of corporations have a fiduciary duty to act in the best interests of shareholders. Another example is in a Trust. A duly appointed trustee has a fiduciary duty to the beneficiaries of the trust.  Even lawyers have such a duty to their clients.

A special trust is placed in the person with the fiduciary duty, and the party to whom the duty is owed is entitled to rely on the obligation owed by the fiduciary.  The person who owes the responsibility must accept this special relationship of trust, and the person who's interests are to be protected agrees to the placement of trust in the fiduciary. Once such a relationship exists, professional expertise and discretion must be exercised by the fiduciary, who must demonstrate special and careful skill and diligence in his or her actions to work in the best interests of the person or persons he is protecting.  The fiduciary must offer truthful disclosures and not act in his or her own interests.

If you have been the victim of a breach of fiduciary duty, you may have legal rights. We'll sit down with you and explore your rights and remedies.