Claims Against Fiduciaries

Fiduciary Misconduct

As the population ages, more and more people require some type of protection, such as conservatorship. The goal of such arrangements is to prevent a frail or confused elderly person from giving away their assets or being victimized by predatory caregivers and relatives. When a conservator charged with protecting the finances of his or her ward steals, misappropriates, or benefits from the conservatee's assets, he or she is guilt of fiduciary misconduct.

Examples of fiduciary misconduct

Another example of fiduciary misconduct is mismanagement of an asset entrusted to his or her care. At our Southern California law firm, Russakow, Ryan & Johnson, our lawyers have filed claims against fiduciaries when:

• Adult children holding a power of attorney mismanaged a parent's financial assets, such as stocks, real estate, and bank accounts
• Relatives lived in a family house rent-free when free rent was not part of the arrangement
• Relatives or caregivers stole from bank accounts and other liquid resources
• Relatives devalued assets, such as real estate, boats, and art works, by failing to maintain them as required by a fiduciary agreement
• The sale of assets was unauthorized

If you believe you or a family member is a victim of fiduciary misconduct, it is important to consult a lawyer right away to stop the misconduct. Contact our Pasadena and Orange County attorneys to discuss filing a claim against a fiduciary.

Defending fiduciaries

In addition to pursuing charges against family members and others responsible for the financial assets of an elderly or frail person, our law firm defends people charged with fiduciary misconduct. Many of our clients in these matters are bankers, stockbrokers, and realtors. When the performance or advice of these professionals is not to the liking of their clients, or a change in the markets lead to a decline in the value of an asset, people often seek someone to blame.

To discuss any issue related to fiduciary misconduct, contact our California law firm. We undertake claims against fiduciaries as well as defense of financial professionals.