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Civil litigation

breach of fiduciary duty

Breach of fiduciary duty is a cause of action or claim in civil litigation (lawsuits) that provides the legal basis for a person or entity to recover its damages/losses when there is a special relationship based on trust and confidence (attorney and client or trustee and beneficiaries) and the party who owes the fiduciary duty breaches its duty of loyalty (conflict of interest) or duty of care (informed judgment in decision-making).

In Minnesota, a breach of fiduciary duty occurs when an individual or entity, who is obligated to act in the best interest of another party, fails to do so. This breach can arise in various relationships, such as between an attorney and client or a trustee and beneficiaries. The fiduciary has a duty of loyalty, which means they must avoid conflicts of interest, and a duty of care, which requires them to make informed decisions. If a fiduciary breaches these duties, the affected party may file a civil lawsuit to recover damages. Minnesota courts will evaluate whether the fiduciary acted in a manner that a reasonably prudent person would consider appropriate under the circumstances. The specific statutes and case law governing fiduciary duties in Minnesota will apply, and the remedies may include monetary damages, equitable relief, or both, depending on the nature of the breach and the harm caused.

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Fiduciaries and Their Duties: Upholding Trust in Transactions

Why does it matter if someone has a fiduciary duty, and how does it impact both everyday people and businesses? Today, we’ll take a look at this important legal concept to demystify the concept of fiduciaries and the responsibilities they bear.

Civil litigation

breach of fiduciary duty

Individual & Family Legal Plan

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Minnesota State Code

Minnesota State Code

Civil litigation

breach of fiduciary duty

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