Middleburg Heights Breach of Fiduciary Lawyer

Breach of Fiduciary Attorney in Middleburg Heights, OH

When  you place your trust in a person to  to oversee a family member’s  personal financial matters or assist you with your business, you expect them to act in your interest rather than in the interest of their personal and selfish gain. When this trust is betrayed, and you suffer financial damages as a result, an experienced Middleburg Heights breach of fiduciary lawyer is here to protect you. 

Whether you have been betrayed by an individual appointed as a trustee a trust set up by your parents or a sibling has personally benefited while serving as an agent under your parents’ Durable Power of Attorney, the team at Phillips & Mille Co., L.P.A.  is here to help you pursue justice.

About Us

For over 30 years, the team at Phillips & Mille Co., L.P.A. has been serving Middleburg Heights residents who find themselves betrayed by those serving as fiduciaries. We handle everything from estate planning and elder law to personal injury and corporate litigation. 

In all of these various practices, breach of fiduciary duty has the potential to arise between individuals involved in the case. Let us protect your rights and your assets from this predatory and wrongful behavior. 

Understanding What Breach of Fiduciary Means in Middleburg Heights

Over the last several years, breach of fiduciary arbitration cases have been on the rise throughout the United States.. A fiduciary is an individual or organization that holds both a legal and ethical obligation to act in your interests, often specifically in relation to your finances.

Before you file a breach of fiduciary claim, it is important to understand common fiduciary relationships to see if your situation truly does fit and a potential claim would be valid. The most common fiduciary partnerships include:

• Trustees and estate executors. Within both trusts and estate plans, people are placed into roles that carry a responsibility to manage assets wisely for future heirs and beneficiaries; trustees for trusts and executors for overarching estate plans. These individuals are also in charge of debt payment and asset distribution.
  
• Agents under Durable Power of Attorney. In Ohio,  agents under a Durable Power of Attorney have a fiduciary duty to act with both legal care and loyalty when they are handling  financial matters on behalf of their principal.
  
• Financial advisors and investment managers. These parties carry a specific obligation to recommend investments to their clients that are only in the financial interests of those clients.
  
• Corporate officers and Members of Limited Liability Companies. In Cuyahoga County and throughout Ohio, these individuals are held to the duty to act in the interests of the shareholders and the company they represent. 

Breaches of fiduciary duty can come in several forms, and it is important to be aware of these forms and proactively guard against them. Unfortunately, in certain cases, no matter how much you do to prevent a breach, trust can still be betrayed. Thankfully, we at Phillips & Mille Co., L.P.A. are here to help you seek justice in the following breach of fiduciary cases:

• Self-dealing, or approving transactions that are to their benefit
• Misusing confidential information, such as personal data, trade secrets, and proprietary data
• Wasting corporate assets, or improper dealing
• Failing to disclose conflicts or material information
• Making improper distributions, insider payments, or pocketing your rightful compensation
• Oppressing minority owners
• Diverting corporate opportunities or stealing business for a competing business venture
• Using trust funds for their own personal gain
• Neglecting their duty or conducting acts of fraud
• Showing general signs of incompetency or habitual drunkenness

At Phillips & Mille Co., L.P.A., we can review your case, determine the correct way of holding the at-fault fiduciary liable, and seek the full and fair amount of compensation you deserve. 

What to Do if You Suspect a Breach of Fiduciary Duty

When a breach of fiduciary occurs, there are several steps you should take before making any official accusations. These actions include:

• Gather evidence such as relevant communications or financial statements 
• Identify the exact duty the fiduciary suspected was in charge of and how it was allegedly breached
• Consult with a breach of fiduciary lawyer who can help you take legal action should that be necessary, and who can protect your interests moving forward.

Choose the Right Legal Advocates: Phillips & Mille Co., L.P.A. 

Navigating a fiduciary dispute requires a legal advocate who has successfully handled such cases in the past, who has business and financial know-how, and has years of litigation experience at their back. At Phillips & Mille Co., L.P.A., not only do we match up to all three of these requirements, but we are also local to the area and know the legal and business landscape of Middleburg Heights like the back of our hands. 

You want to protect what matters most, and at Phillips & Mille Co., L.P.A., we get that. If you suspect a breach of fiduciary duty, you want to get out ahead of it and stop any further financial harm that could occur. Reaching out to an attorney and law firm you can trust is the first step in proactively protecting your interests. 

At Phillips & Mille Co., L.P.A., we care about our local community, and we care about you. Our team is ready and able to uncover the truth in a breach of fiduciary case and hold the at-fault party responsible for their wrongdoing. Choosing the right legal advocates often means choosing your local law firm, and at Phillips & Mille Co., L.P.A., we are as local as it gets. 

Hire a Breach of Fiduciary Lawyer Today

If you and your loved ones have suffered some form of breach of fiduciary duty, Phillips & Mille Co., L.P.A. is here to serve you. When you hire a breach fiduciary lawyer from our team, you can rest easy knowing we have your interests at heart.

There are several different legal options available to you when a breach of fiduciary occurs, and we invite you tocontact our offices today in order to schedule a consultation so that we may determine which option works in your interests.