What To Do When Executors, Trustees, Powers of Attorney And Other Fiduciaries Breach Their Duties
A fiduciary duty is created when someone has knowingly accepted the responsibility to look after the best interests of another party. Trustees, executors, legal guardians, conservators and lawyers are but a few of the categories of people who enter into fiduciary relationships.
This responsibility usually entails a great deal of faith and trust being placed in the fiduciary by the beneficiary of the relationship. Control over an asset or funds is granted to the fiduciary. The fiduciary must place the interests of the owner/beneficiary before his or her own.
Has a loved one fallen victim to a breach of fiduciary duty? If so, contact Zigray Law Office, LLC. We will take immediate steps to stop the illegal and unethical behavior.
Power Of Attorney Abuse Or Misuse
As parents age, they may seek the assistance of one of their children to help them in managing their financial obligations, investments and property. A typical way to grant the required level of access for someone else to be able to be active in managing their finances is to grant a power of attorney. Once a power of attorney is granted, the person who granted it may simply assume that his or her finances and other issues are being taken care of. The person may be incapable of interacting in a meaningful way regarding those issues or they may be shunted away from their own affairs when a breach of fiduciary duty is occurring. Often, an elderly person who has medical problems, or is in a physically, mentally or emotionally weakened condition, is a “prime target” for others seeking to unlawfully gain assets through the use of a power of attorney.
Power of attorney abuse can have a serious impact on family relations when the abuser is a family member. Even if the original intentions of the fiduciary were honorable, it can be difficult to maintain the interests of another over a period of years. Our over two decades of experience in probate litigation can help create positive solutions that treat your elderly parents or loved one with the respect and dignity they deserve.
Contact Zigray Law Office, LLC
At our Toledo-area law firm, we offer free in-home initial consultations throughout the state of Ohio and contingency fees for the ease of our clients who have breach of fiduciary duty questions. Call 419-794-1044 or contact us online.