Our Miami Breach of Fiduciary Duty Lawyer Understands What’s at Stake
When a business or individual places their trust and confidence in others to act in their best interests it may create what is called a fiduciary relationship. When another person fails to exercise their obligations as a fiduciary by exercising reasonable prudence or care, they may have breached their fiduciary duty. If someone has breached their obligation to your company, speak to a Miami breach of fiduciary duty lawyer today that can help with your claim.
Breaches of fiduciary duty claims are serious allegations and individuals and business owners that file claims against the party that was responsible for the breach must understand the intricacies in this area of law. Often such allegations can be very contentious and life altering for the individuals that accused of breaching their fiduciary duties. Typically, parties that have fiduciary duties carry insurance to protect themselves and their businesses from breach of fiduciary duty claims. Through a successful claim, business owners can recover civil damages for any losses they sustained as a result and it is common for such losses to be paid by insurance carriers.
What is a Fiduciary Duty?
The foundation of a fiduciary relationship occurs any time one party places their trust in another, and that second party fully accepts and acknowledges the responsibility. In some cases, a contract is required to establish the fiduciary relationship. In other cases, certain relationships imply a fiduciary duty. For example, an accountant or a lawyer always has a fiduciary duty to their clients. Other circumstances of fiduciary relationships may include financial advisors, investment professionals, auditors, tax professionals, members that serve on a board of directors of a company, certain officers of a company, trustees of a trust or representatives of an estate.
When is a Fiduciary Obligation Established?
Fiduciary obligations are established in a number of situations, including attorney-client relationship, and executor-heir relationships. In business situations specifically, fiduciary obligations are established between business partners, corporate officers and shareholders, and more. Sometimes these obligations are outlined in a contract and other times they are not. A Miami breach of fiduciary duty attorney with our firm can help you establish whether fiduciary duty exists and if a breach of fiduciary duty has occurred.
How to Prove a Breach of Fiduciary Duty Claims
Entities and individuals may breach their fiduciary duty in a verity of ways, depending largely on the type of relationship between the different parties. Generally speaking, a breach of fiduciary duty occurs when one party trusted to act in the best interests of another violates that trust and acts in their own best interest. To prove a breach of fiduciary duty, you must establish the following:
- One party had a fiduciary duty to you,
- That party breached their fiduciary duty, and
- You suffered damages as a result of the breach
A Miami breach of fiduciary duty lawyer that can help you prove these important elements of your case. The amount of damages you may receive will largely depend on the amount of losses you sustained as a result of the breach of duty.
Our Miami Breach of Fiduciary Duty Lawyers in Miami Can Assist You
If you have suffered damages from a breach of fiduciary duty, call our seasoned breach of fiduciary duty attorneys at Edelboim Lieberman today. After reviewing the facts of your case, we will devise an effective strategy for moving forward that will give you the best chance of success. Call us today at (305) 768-9909 or contact us online to schedule a consultation.
