If you are dealing with the death of a loved one, it can be hard to deal with the problems that can arise with their estate. One of the major issues that you may be struggling with is finding out that a trustee breached their fiduciary duty. A trust that was set up for your benefit (or the benefit of another beneficiary) may have lost money or have been nearly drained of all its assets as a result of those behaviors.
When a breach of fiduciary duty takes place, it can be a cause for a civil lawsuit. The trustee was believed to be honest, and they were expected to do what was right for your loved one and your family. Now that they’ve shown that they cannot be trusted, you may want to know more about your legal options and how to try to get compensated for the loss of assets that were to be left behind for you or your family.
In your case, you will need to show that the trustee had a duty to the plaintiff, such as being a contracted trustee. You will need to show that a breach of the duty occurred. For instance, if the trustee moved assets out of the trust and into a personal account, that is likely a violation of their duties.
Finally, you need to show damages. If a trust account is drained because of their negligent or intentionally malicious actions, then you may have a right to pursue a claim. Our website has more on what to do if a trustee has breached their duty to the estate and caused significant losses.