Fiduciaries have legally binding duties to those they serve, including acting in a timely manner and having the best interests in mind of the interested parties of the fiduciary. Beneficiaries who need to hold fiduciaries accountable for breaching their duties may want to retain a fiduciary attorney litigator.
The attorneys at Gaslowitz Frankel LLC have focused on fiduciary litigation for over thirty years, making them industry leaders for the state of Georgia. They have exclusively handled these types of cases for decades. “Fiduciary disputes are painful, drawn-out affairs that are financially and emotionally exhausting for everyone involved,” says attorney Craig Frankel. “While mediation is ideal, it is not always possible.”
Read more to learn about fiduciary bonds.
What is a Fiduciary Bond?
A fiduciary bond (also known as a surety bond, probate bond, or executor bond) is an insurance policy bond that protects the beneficiaries of an estate or trust from potential mismanagement or misconduct by the fiduciary.
In many states, fiduciaries are required to take out a bond once prior to being appointed as a fiduciary. Georgia is one such state — unless waived by a testator, Georgia administrators and executors are required to purchase a surety bond before being appointed as a fiduciary. The cost of the bond depends on the size of the estate and is generally 1% of the estate amount.
Do I Need a Fiduciary Bonds Attorney?
If a fiduciary breaches a provision outlined in the bond, a fiduciary litigator can provide invaluable assistance in helping to hold the fiduciary accountable. They do this by:
- Providing Legal Advice: Fiduciary litigators understand trust and estate laws. If you suspect there has been a breach of fiduciary duties, such an attorney can assess your case and advise you on legal actions.
- Investigating: It is preferable to get an attorney involved as soon as possible in the case of a breach so that the attorney may investigate, gather evidence, and build a strong case.
- Representing You Through Negotiations and in Court: Fiduciary litigators represent your interests in court. It is important to choose an attorney who you feel comfortable and confident representing you in front of a judge and jury.
A fiduciary bonds attorney can be instrumental in holding the fiduciary accountable and ensuring the protection of your interests. Seek out a legal professional who is well-versed in fiduciary law.
About Gaslowitz Frankel LLC
We have the compassion and experience to guide beneficiaries toward understanding their unique situation and toward making the best decisions that optimize their outcomes. Our team has the knowledge to address concerns beneficiaries have during the litigation process, including the desire to honor the deceased, avoid or minimize the time in court, alleviate stress, and make the best decisions for themselves and their families.
Gaslowitz Frankel LLC has the passion and authority required to deliver clients with their ideal outcomes. Fill out our contact form for a free consultation.
