Virginia Fiduciary Litigation Attorneys

Fiduciary Litigation Attorneys

Trustees, executors, and agents must uphold their fiduciary duties when managing funds. When someone with standing believes a fiduciary breached their duties, he or she can file a lawsuit to remove the individual and collect damages. Whether you are suing a fiduciary or defending yourself against a claim, the legal process is complicated. Thus, it is crucial to have a Virginia fiduciary litigation attorney by your side.

With an established and experienced team, PJI Law has the resources necessary to assist you in your case. We represent fiduciaries and interested parties, so we understand both sides of these cases. We can help you build a case or mount a legal defense. First, contact us to discuss your situation so we can begin providing the support you need.

What is a Breach of Fiduciary Duty?

“Breach of fiduciary duty” is a legal term that includes various actions. For instance, people can breach fiduciary duty by:

• Using the assets and property for their own advantage
• Concealing or omitting information to commit fraud
• Failing to pay claims, debts, and taxes
• Refusing to follow the directions in the power of attorney, trust, or will
• Failing to provide an accurate accounting

Remedies When Fiduciary Duty is Breached

A Virginia fiduciary litigation attorney can help you pursue legal remedies in your case. The court has several remedies at its disposal, including ordering the fiduciary to reimburse out-of-pocket losses and lost profits. Additionally, you might be eligible for exemplary damages and compensation for mental anguish.

Finally, the judge can terminate the fiduciary’s contract. Then, a new fiduciary can step in and assume the role.

You have to meet the burden of proof to collect damages. Contact our firm today to discuss how to move forward with your case.

Defending Against Breach of Fiduciary Duty Claims

Your fiduciary litigation attorney will review the evidence before mounting a defense. First, the attorney will determine if your actions fell within the bounds of the agreement. It is possible that you followed the letter of the law, and thus, the other party does not have a valid claim. It is also possible that your attorney can use the laches defense. This means the filing party waited too long to make a claim. By waiting, you thought that the other party agreed that your actions were within legal boundaries.

Ratification is another possible defense. You can use this defense if the suing party had full knowledge of your actions and approved them, only to file a claim later.

These are just some of your options. Contact our firm today to discuss possible legal strategies.

Does Intent Matter?

While many people think that a fiduciary must intentionally breach his or her duties to be held accountable, that is not the case. Forgetting to keep records or accidentally making risky investments are reasons enough to file suit. This means that you can bring suit against someone who had good intentions but did not carry out his or her duties properly. If you are unsure if you have grounds to file a suit, contact our Virginia fiduciary litigation attorneys today. We can review your case and develop a plan for moving forward.

Establishing a Claim

While each case is different, there are four components involved in establishing a breach of fiduciary duty. First, you must prove that you had a fiduciary relationship. Second, you have to demonstrate that the person did not meet his or her obligations. Next, you must have standing, meaning you are somehow impacted by the breach. For example, if you are a trust beneficiary, you likely have legal standing. Finally, the court requires that you experienced harm or damages due to the fiduciary’s actions. Contact our firm today to see if you meet the criteria to file a claim.