Suing An Estate Executor For Breach Of Fiduciary Duty In Georgia
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FAQ
An executor has a fiduciary duty to always act in the best interest of the estate. This means that if an executor does not act in the best interest of the estate, they may be subject to court intervention and penalties for a breach of their fiduciary duty.
In order to claim remedies for breach of fiduciary duty, a complainant needs to establish four things: There was an existence of a duty between the complainant and the fiduciary. The fiduciary owed a duty of trust and faith to the complainant. There has been a breach of duty by the fiduciary.
Plaintiffs who have sustained a personal noneconomic injury may sue for breach of fiduciary duty. Examples include emotional distress and even imprisonment (for example, resulting from attorney malpractice).
If the board of directors or individual board members have breached a fiduciary duty to the shareholders, the shareholders can bring a lawsuit to protect their interests.
Breach of fiduciary duty claims are complex, and the proof necessary to win a lawsuit is often not readily apparent or available. These claims can take a lot of time and investigative work to prove. If your claim does not settle, the litigation that ensues can be lengthy and convoluted.
The Georgia law requires that executors of wills and trustees of trusts exercise a duty of utmost good faith and loyalty to the beneficiaries of an estate or trust. The consequences of breaching this duty can be severe, and can include compensatory damages, punitive damages and even the award of attorney's fees.
To make a claim in an estate, the creditor must go through the court system. The creditor first files a Statement of Claim in the probate matter for the decedent, or the person who died.
In particular, just some possible defense arguments can include that: The perceived breach of fiduciary duties never, in fact, occurred. The plaintiff relinquished certain rights when entering into the relationship with the fiduciary. The case should be dismissed because the statute of limitations has expired.
