Trusts And Breach Of Fiduciary Duty

A fiduciary is the trustee, the person who has been charged with managing a trust. A fiduciary's duties include protecting the assets held in the trust, investing assets wisely and distributing assets to beneficiaries fairly. When a trustee violates his or her duties, it is referred to as breach of fiduciary duty. If you suspect wrongdoing on the part of a trustee, Mucci Law Firm can help. Our attorneys have more than 10 years of experience handling these cases in Albuquerque, Santa Fe and throughout New Mexico.

What Constitutes Breach Of Fiduciary Duty?

The trustee may also be a beneficiary of the trust. However, he or she may not simply take assets from the trust to use for his or her own benefit, except as indicated in the trust provisions. Many cases of breach of fiduciary duty involve a trustee taking money from the trust for personal use or for his or her own business endeavors.

Sometimes the trustee may be well-intentioned. He or she may make an investment with the trust assets. However, if the investment was not sound or violated the terms of the trust and it resulted in a major loss for the beneficiaries, the trustee should be held accountable.

Transparency on the part of a trustee is required. Perhaps you suspect that the trustee has breached fiduciary duty, but you do not have evidence because the trustee has not provided the required accountings. Our lawyers will take action to find out what, if anything, has happened. We will see that the trustee fulfills his or her reporting obligations, and if wrongdoing is indicated, we will pursue trust litigation if appropriate.

Free Consultations About Trust Fraud

Call 800-639-8403 or send an email to discuss breach of fiduciary duty.