Put the Trust in Trustee – Trustee Responsibilities and Beneficiary Rights as Told Through Tony Bennett’s Estate
Whether you are a trust beneficiary or the trustee, you need to know what that means to avoid issues and potentially costly expenses. Trustees have duties—both in the law and outlined in the trust agreement. Beneficiaries have rights—also in the law and outlined in the agreement. These rights and responsibilities aren’t taught in school. So, […]
What Is Legal Malpractice?
Legal Malpractice in Illinois: Understanding the Impact and Importance People hire attorneys because a legal problem takes up their time, money, or harms their reputation. Furthermore, most people cannot handle these legal problems on their own. When clients seek representation to navigate often complex legal matters, they put their trust in a lawyer for sound […]
The Most Important Elements in a Breach of Fiduciary Duty Claim
How to Prove Breach of Fiduciary Duty to Recover the Damages You Suffered When a person owes a fiduciary duty to another person or entity, they have the responsibility to act in the best interest of the other party. A fiduciary duty is the highest standard of care you can ensure to another person. Oftentimes, […]
When Should You Hire a Fraud Defense Attorney?
If a client claims that you made an unjust gain or were negligent in performing your professional duties, you may face a fraud charge. An accusation of financial or corporate fraud is a serious matter. In addition to facing civil or criminal charges, a fraud offense can lead you to financial hardships and being ostracized […]
Establishing a Fiduciary Relationship
Not everyone has the ability or desire to act on their behalf in every matter. For example, if one is selling a home, they may not know the real estate market or how to publicize the listing. People may not know how to manage their money and select investments from the large universe of financial […]
Can I Sue a Family Member for Breach of Fiduciary Duty?
The law does not consider family members as one legal unit. Each member of a family may have different roles and responsibilities. They may also have quite different financial interests. In numerous situations, family members assume responsibility for certain decisions. When they do, or if they have another role where their choices and actions can […]
How Can You Prove a Breach of Fiduciary Duty?
Alleging that someone breached their fiduciary duty is a severe charge. Essentially, you are contending that someone violated the trust that you placed in them. The law takes fiduciary duties very seriously. Although it is not always easy to prove your case, the defendant can be personally responsible for damages if you are successful. You […]
When Is Self-Dealing a Breach Of Fiduciary Duty?
Fiduciaries occupy an extremely important position. Someone else relies on them to manage and administer a valuable asset in which the beneficiary has a stake. A fiduciary’s actions can have a direct financial impact on a beneficiary. If fiduciaries make a mistake or are derelict in their duties, they can cause large financial losses. Those […]
Partnership Litigation: Can You Sue Your Business Partner?
Partnership Litigation: Can You Sue Your Business Partner? When business partnerships dissolve, the idea of partnership litigation can be intimidating. You may wonder what the quickest and cleanest way is to resolve your company’s issue. Certain situations are more likely to lead to partnership litigation. Learn what to do when your business is facing litigation. […]
What Is a Breach of Fiduciary Duty? Definition and Examples
What Is a Breach of Fiduciary Duty? Definition and Examples A fiduciary relationship exists when one party is entrusted to act only for the interests of the other. We see fiduciary relationships every day: agent to principal representations, lawyer to client representations, and board of directors to the shareholders of a corporation. Generally, there are […]
