When a trustee breaches their fiduciary responsibilities, the result can be devastating. Read on for some guidance on trustee “malfeasance”.
What is Breach of Fiduciary Duty?
A breach in fiduciary duty refers to a violation of the trust (and the trust beneficiaries), even if the act is not directly prohibited in writing. As such, the perception of negligence or malfeasance may be a breach of fiduciary duty. Unfortunately, there are too many cases in Virginia of trustees performing their duties poorly.
A breach of fiduciary duty can also refer to poor investment decisions, criminal activity (e.g., embezzlement, diverting funds for selfish gains) and civil or criminal fraud.
What to Do After Trustee Malfeasance in Virginia.
If you are the beneficiary of a trust and believe that you have fallen victim to trustee malfeasance, it is important that you contact an experienced lawyer who can assess your claim and advise you while representing your interests.
What to Do as a Trustee Accused of Malfeasance.
If you are a trustee accused by beneficiaries or those who appointed you, it is in your best interest to seek legal representation.
At Cook Craig & Francuzenko we partner with you to walk you through all of your legal options and to advocate for you so that you feel protected and supported.
We have experience representing all sides of trustee malfeasance suits which makes us uniquely qualified to provide expert advice and legal guidance for your case. If you are interested in working with Cook Craig & Francuzenko, please contact us today at (703)865-7480.
