Ending our serious 6 Important Facts about Breach of Fiduciary Duties, below, we’ll point out a few more things to know if you are considering becoming a fiduciary or if you are working with a fiduciary for any aspect of the estate planning or probate process.

Breach of Fiduciary Duties: More Essential Things to Know

Fact 5 – There can be viable defenses to allegations of breach of fiduciary duties.

Breach of fiduciary duties can be avoidable with the help of professionals, our Pueblo probate attorneys note. Contact us for help favorably resolving breach of fiduciary allegations.

Breach of fiduciary duties can be avoidable with the help of professionals, our Pueblo probate attorneys note. Contact us for help favorably resolving breach of fiduciary allegations.

While allegations of breaching fiduciary duties can be valid, in some cases, these allegations may be baseless, as they can be made by beneficiaries (or others) who are simply unhappy with the way an estate has been administered (even though the administration may be completely legal).

In such cases, there can be various ways for fiduciaries to defend themselves against such allegations, with only some possible defenses being that:

  • The statute of limitations for the compliant has expired.
  • The complaining party waived certain rights.
  • The alleged breach never occurred.

This is where meticulous accounting for an estate can be crucial, as these records can serve as pivotal evidence in defense cases related to allegations of breaching fiduciary duties.

Fact 6 – Fiduciaries can generally hire professionals to help them avoid breaching their duties.

This may be the single most important fact for fiduciaries of estates (as well as trusts, conservatorships, etc.) to know because it could save them from some expensive, contentious and draining disputes later. In fact, when people agree to assume the position of a fiduciary for an estate:

  • They usually have the power to hire lawyers, accountants and/or other professionals to help them carry out their fiduciary duties.
  • These professionals can generally be paid from the funds of the estate being administered/overseen.
  • Retaining such professionals is in fiduciaries’ best interests, as it can help them be in full compliance with their duties (and, consequently, minimize the chances they will be accused of breaching their fiduciary duties later).

Trinidad and Pueblo Probate Attorneys at Gradisar, Trechter, Ripperger & Roth

Do you need help probating or administering an estate? If so, the experienced Trinidad and Pueblo probate attorneys at Gradisar, Trechter, Ripperger & Roth are here for you, ready to provide you with the highest quality legal services. Diligent and esteemed, our Trinidad and Pueblo probate attorneys have been committed to helping our clients successfully navigate the complexities of the legal system and to favorably resolving their important legal issues since 1972. With our trusted attorneys on your side, you can be confident that your case and legal matters will be brought to a successful resolution in the most efficient manner possible.

Contact Us

To learn more about our superior legal services and how we can assist you, contact us by calling (719) 556- 8844 or by emailing us using the contact form on this page.

From our offices based in Pueblo, we represent clients in Trinidad, La Jara, Lamar, Walsenburg, Alamosa and throughout the state of Colorado.

Categories: Colorado Probate