Dallas Probate Attorneys Litigating Breaches Of Fiduciary Duties
There are several instances where an estate may need to bring an action for breach of fiduciary duty. Such matters often involve someone abusing power granted to them by the deceased or a failure to complete an important task before or after the deceased passed away. Under many circumstances, an estate may be able to bring suit and recover what it is owed. This can allow assets to wind up where they belong – with the heirs. Our Dallas, Texas probate litigation attorneys regularly handle breach of fiduciary duty issues involving a trust or an estate. Call our lawyers today for a free consultation.
Texas litigators aggressively fighting a fiduciary’s abuse of a power of attorney
A fiduciary is a person or institution charged with acting on another person’s behalf, such as an appointed power of attorney, financial advisor, trustee, or accountant. Fiduciaries have a legal obligation to perform their duties in the best interest of the person or persons they represent. Actions that are contrary to their principal’s best interest, such as mismanaging assets, breaking the law, or self-dealing, may constitute a breach of their fiduciary duties. For instance, a financial advisor who is charged with investing funds, must do so in accordance with their client’s instructions and in a responsible, trustworthy manner to maximize the investment. If the advisor fails to do so by missing filing deadlines, diverting investments without permission, or skimming profits for example, the advisor’s breach of fiduciary duties may harm the person’s estate. Fortunately, when an estate has been harmed because of such breach, it may be possible to initiate legal proceedings to rectify the situation.
A common occurrence is for a person granted authority as a power of attorney, an executor, or a trustee to blatantly misappropriate funds. One charged with caring for a loved one may use the loved one’s money to pay their own bills, to fund their own activities, or to give funds to their own children. There are also situations in which the theft may be more subtle; money may be transferred to accounts of which others are unaware or the fiduciary may run up lavish expenses in the name of assisting the person whom they are supposed to be protecting. Texas’ probate litigation process allows for steps to be taken to have stolen money returned to the estate. If you are facing a situation where your inheritance has been wrongfully diverted, then you should contact an attorney.
Our Dallas probate lawyers aggressively pursue those who have breached their fiduciary duty. Once retained, our firm will file the appropriate pleadings to initiate the dispute. The matter will typically be assigned to a Texas Probate Judge. We will immediately begin the process of acquiring evidence which shows how one’s responsibilities have not been met. This evidence can include accountings of assets, bank statements, investment account statements, records of retirement accounts, titles to items such as automobiles, as well as other financial records. If necessary, we will retain a forensic expert to track the flow of assets to show that there has been a violation of a fiduciary duty. We will ensure that you are prepared for the final hearing, which is often heard by the Probate Judge, and will be in contact with you each step of the way. Contact our office today to schedule an appointment. We also service Plano, Frisco, McKinney, Denton, Fort Worth, Garland, Irving, Austin, Houston, San Antonio, Nacogdoches, Lufkin, and Center.
Dallas lawyers with the skills necessary to pursue a fiduciary during probate litigation
It is important that you retain an attorney who understands this area of law. Price L. Johnson is a Certified Public Accountant as well as an experienced lawyer. He provides an added advantage when tracking and deciphering misappropriated assets. Our firm has the necessary background and experience to ensure that your interests are fully protected when a fiduciary has breached their responsibilities. Other individuals, besides a power of attorney, executor, or trustee who may be liable to the estate include lawyers, accountants, tax professionals, real estate professionals, etc. Our firm is ready to assist you regardless of the situation.