Fiduciary Duty Laws in California: Your Guide
There are many laws that are in place in order to make sure that people act in the best interests of themselves and others. The concept of a fiduciary duty fits into one of these laws. A fiduciary duty is the obligation a person has to act in the best interest of another individual, due to the person’s relationship with that individual. In a relationship where one person puts his or her trust and confidence in another, the second individual has a fiduciary duty to uphold that trust and confidence. The law gets involved when there is a breach of fiduciary duty.
The California Civil Jury Instructions that were published in 2017 state that a fiduciary relationship is “any relation existing between parties to a transaction wherein one of the parties in duty bound to act with the utmost good faith for the benefit of the other party.” The beneficiary will put their confidence in the integrity of the fiduciary, and at that point, the fiduciary cannot take advantage of the beneficiary. They are obligated to treat the beneficiary with reasonable conduct and care, be open and honest, and act in good faith.
If a person is in breach of fiduciary duty, this is not a criminal act in itself, but it can be tied to a criminal act in some cases. In the state of California, if there is a breach of fiduciary duty, the plaintiff is able to demand compensatory damages and punitive damages. The challenge often lies in proving that a breach has occurred and in quantifying the damages that have occurred. For this, it would be good to work with Breach of Fiduciary Duty Lawyers in Irvine CA or Breach of Fiduciary Duty Attorneys in Irvine CA.
If you are a beneficiary who feels that a fiduciary has violated you or a fiduciary who has been wrongfully accused of violating a beneficiary, you may be able to seek legal assistance. You can contact the professionals at Brockmeier Law Group, where there are multiple Irvine CA Breach of Fiduciary Duty Lawyers who can help you. If you are willing to work with Irvine CA Breach of Fiduciary Duty Attorneys, you may just be able to get justice for your situation.