Fiduciary Disputes Attorney Phoenix
The law imposes special duties on many different people or entities whose jobs or responsibilities make them especially responsible to look out for interests other than their own. These are known as “fiduciary” duties, and they are most often associated with trustees, corporate directors, partners, investment advisers, and certain professionals. Where the law recognizes a “fiduciary duty” the person having that duty is required to put the interests of others ahead of their own and meet certain standards of behavior. For instance, a corporate director may be required to disclose any interest he or she has in a sale of property to the company, or a trustee may be restricted to investing money under their care in only specific, relatively safe investment options.
Because fiduciary duties are expected to look out for others, any time they breach those duties they can expose themselves to liability for any damages that result from their failure to follow the rules that apply to them.