When Does a Fiduciary Duty Exist Under Florida Law?

A common cause of trust and estate litigation in Florida is breach of fiduciary duty. A fiduciary duty means that one person has a legal obligation to act in a way that will benefit another person financially. To give a simple, non-probate example, the director of a business corporation has a fiduciary duty to manage the company’s assets in a manner that will benefit the stockholders.

There are a number of fiduciary relationships that exist in the trust and estate context. A trustee has a fiduciary duty to the beneficiaries of the trust. Similarly, the personal representative of an estate has a fiduciary duty to the beneficiaries named in the decedent’s will–or if there is no will, to the heirs designated by Florida intestacy law. A person in either of these positions can be held personally liable for violating their fiduciary duties under law.

In some cases, a Florida court may also impose a fiduciary duty even where the parties have not expressly created one. For instance, a court may decide that a particular set of actions by the parties created what amounts to a trust and therefore impose the same fiduciary duty on one party as would exist under a formal written trust. The absence of a written document does not, in and of itself, defeat a claim that there has been a breach of fiduciary duty.

Contact Florida Trust Litigation Attorney Mark R. Manceri Today

If you are involved in a legal dispute where a breach of fiduciary has been alleged, it is important to consult with an experienced Pompano Beach trust litigation attorney who can advise you of your rights in this area. Contact Mark R. Manceri, P.A., today to schedule a consultation.

Source:

4dca.flcourts.gov/content/download/875018/opinion/212291_DC08_08092023_100359_i.pdf