Delaware Complaint for Breach of Fiduciary Duty - Trust
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How to fill out Complaint For Breach Of Fiduciary Duty - Trust?
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FAQ
A breach of fiduciary duty is not a criminal act but can be associated with one. For example, if the Trustee was self-dealing, e.g., selling a property, for instance, way below fair market value to a friend or themselves, then a court may see this as a form of embezzlement.
This can include lost investments, diminished value of your assets, outright theft, decisions made without your consent, or failure to carry out one's fiduciary responsibility. You can also prove a breach through the fiduciary's failure to act?for example, not disclosing a conflict of interest.
Examples of breaches can include stealing clients away from an employer, misappropriating funds, or working with or for the competition.
This is so because damages are not an element of a claim for breach of fiduciary duty under Delaware law. Rather, the elements are that 1) a fiduciary duty exists, and 2) such duty was breached.
The fiduciary will typically be removed from his role of trust. If financial loss occurred because of the fiduciary's breach of duty, it is possible that the fiduciary will be held accountable for those losses and money will be awarded to those who were damaged which the fiduciary would have to pay.
Delaware Breach of Fiduciary Duty Elements In a Delaware fiduciary relationship, the agent is required to do his or her best to work in the best interests of the principal. This can include using his or her skill, diligence, and care with full honesty and disclosure to perform the actions asked by the principal.
Proving an Actual Breach of Fiduciary Duty Is Difficult In a personal injury case, proving a breach of duty is often the most contested part. Here, you must demonstrate what the fiduciary did that fell short of their duty.
A breach of fiduciary duty occurs when the fiduciary acts in his or her own self-interest rather than in the best interests of those to whom they owe the duty.