Pennsylvania Breach of Fiduciary Responsibility Attorney
You and your business no doubt put a lot of time and thought into assigning who you’ll agree to a fiduciary relationship with. When that party fails in his or her duties, that constitutes a breach of fiduciary responsibilities.
Your best first step in that case is to hire an experienced Pennsylvania breach of fiduciary responsibility attorney. The sooner you bring in experienced legal professionals, the more you will limit the financial damage and liability you and your organization will face. As soon as you’re ready to take action, contact Berkowitz Klein for professional expertise in handling breach fiduciary responsibility.
What relationships qualify as fiduciary?
The legal definition of a fiduciary relationship:
“An individual in whom another has placed the utmost trust and confidence to manage and protect property or money. The relationship wherein one person has an obligation to act for another’s benefit.”
Courts have kept an open interpretation of what relationships can constitute fiduciary responsibility. However, several more general business relationships are assumed to be fiduciary, including:
- attorney and client
- broker and principal
- principal and agent
- trustee and beneficiary, and
- executors or administrators and the heirs of a decedent’s estate.
Making your case
The good news: Proving breach of fiduciary responsibility is easier to prove than fraud in most cases. In allegations of fraud, the claimant must prove criminal fraudulent intent.
To prevail in a breach of fiduciary responsibility civil action, you need to show the party was in a trusted position of good faith and violated that position by putting personal interests ahead of those of the corporation through self dealing or a conflict of interest.
There are several other benefits to suing for breach of fiduciary duty over other civil actions designed to recover damages.
- No experts needed. Unlike a negligence claim, breach of fiduciary duty suits do not usually require expert testimony.
- Expectations beyond the contract. Fiduciary duty usually begins with a contract, but a court will look at many aspects of the day-to-day working relationships to determine if the duty has been breached.
- Shift in burden of proof. In these cases, the burden of proof is placed on the fiduciary to show he or she acted appropriately.
- Beyond compensatory damages. Claimants can sue for profit lost by the fiduciary’s actions that prompted the breach suit.
A qualified attorney on your side
Whatever your specific situation, Berkowitz Klein has the experience and skills needed to bring your case to a successful conclusion.
If you need a qualified Pennsylvania breach of fiduciary responsibility attorney, call Berkowitz Klein and we will defend and protect your rights.