The Fiduciary Duty of a Probate Lawyer in Mississippi
After an individual passes away in Mississippi, certain fiduciary responsibilities are designated to the executor, the trustee(s) of an estate, and the probate lawyer if hired. Together, they must ensure that the wishes of the deceased are carried out and manage the estate administration process on behalf of the beneficiaries. Most estates in Mississippi are subject to probate before assets can be distributed to the heirs, a process that may require the assistance of a probate lawyer to complete. Let’s take a closer look at the fiduciary duties of probate lawyers, executors, and trustees. Book A Consultation ...
How Can Trustees Breach Their Fiduciary Duties in Mississippi?
A trustee in Mississippi has a fiduciary duty to manage a trust according to a wide-ranging set of obligations and responsibilities. If your trustee is breaching any of the rules, he/she can be replaced and, depending on the nature of the breach, may face trust litigation and be required to pay monetary or non-monetary damages. If you’re a beneficiary, how do you know if a trustee is fulfilling their obligations or not? And, if you’ve been appointed as a trustee, how can you ensure you follow the rules? Let’s run down the most common ways that trustees breach their ...
Corporate Disputes Often Involve Fiduciary Duty
For many years, a trustee has been required to serve their beneficiaries loyally with the same regard for the beneficiary’s interests as they would their own. And a trustee must also surrender any gain to the beneficiary when the trustee has made a profit by serving their own needs while in the service to the beneficiary. This duty of loyalty has been adapted by the courts to other relationships under the title of fiduciary duty. There are many instances of litigation where the member of a corporation is accused of a breach of fiduciary duty when this loyalty has been ...
