Suing An Estate Executor For Breach Of Fiduciary Duty In Wayne
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FAQ
The concept of punitive or exemplary damages is well accepted among common lawyers. Where a tortfeasor's conduct is sufficiently blameworthy as to warrant punishment, a court may, in its discretion, award additional damages 'to punish the defendant and vindicate the strength of the law.
Expenses incurred before entering into a contract are not recoverable if they were not contemplated by the parties when they made the contract. Damages for lost profits must be based on net profits, not gross profits.
Recovery under breach of contract is generally limited to direct losses that flow naturally from the breach and are within the reasonable contemplation of the parties at the time the contract was made. Indirect or consequential losses are often excluded unless specifically addressed in the contract.
What Damages Are Available In Fiduciary Breach Cases? Unpaid benefits, Monetary damages, Lost profits, Unnecessary losses, Punitive damages, Any illicit gains made by the fiduciary, and. Other economic harms experienced by the victim.
A claimant who has established a breach of fiduciary duty will typically have the option to choose between two remedies: (a) an account of any profits earned by the defendant as a result of the breach or (b) equitable compensation for any loss sustained by the claimant as a result of the breach.
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.
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.
Distribution of assets: Embezzlement, misappropriation, outright theft or any other failure to distribute the assets of the estate or trust as dictated by law constitutes a fiduciary breach.
A fiduciary's breach could involve doing something for their own personal advantage or neglecting your best interest, and if you know what to look out for, you stand the best possible chance of avoiding personal liability and limiting potential damage.
