Fiduciary Duties
Learn about fiduciary duties in estate planning. Understand trustee responsibilities, executor obligations, and how these legal duties protect beneficiaries.
What happens if a trustee breaches their fiduciary duty?
When a trustee breaches their fiduciary duty, they can be held personally liable for any losses to the trust. Beneficiaries can petition the court to remove the trustee, recover damages, and potentially seek restitution for mismanaged assets. Common breaches include self-dealing, failing to invest prudently, or not keeping proper records. The court may also order the trustee to pay attorney fees and court costs in serious cases.
