Wealth managers are trusted advisors who play a vital role in protecting and growing their clients’ wealth. However, even in the most carefully planned financial strategies, disputes can arise that necessitate the involvement of fiduciary litigation attorneys. Gaslowitz Frankel serves individuals, attorneys who practice estate planning, trust, business, and family law, as well as wealth management and financial advisors and their clients in Georgia and across the Southeastern United States.
When Protecting Wealth Expands Beyond Planning
As a wealth manager, you focus on financial planning, investments, and asset management to secure your clients’ financial futures. Your expertise lies in creating strategies for wealth accumulation and preservation. However, situations can emerge where protecting your client’s wealth extends beyond these core functions:
- Trust and Estate Disputes: Disputes may arise over the management or distribution of assets within your clients’ trusts and estates. These disputes can involve disagreements among beneficiaries, questions about the trustee’s actions, or challenges to the validity of estate planning documents.
- Breach of Fiduciary Duty: These disputes arise when a trustee, executor, or other fiduciary mishandles your client’s assets or engages in self-dealing.
- Financial Misconduct: Unfortunately, instances of financial misconduct, such as fraud or embezzlement do occur. These situations can lead to significant financial losses for your clients and require legal action to recover assets and protect their interests.
“Fiduciary litigation often involves untangling complex financial webs,” says Adam R. Gaslowitz, a founding partner of Gaslowitz Frankel. “It requires a deep understanding of both the financial and legal aspects of a case to effectively advocate for our clients. As wealth managers, you need a partner who can dissect these complexities.”
When to Bring in Fiduciary Litigation Attorneys
Recognizing when to involve fiduciary litigation attorneys is crucial for you as a wealth manager seeking to protect your clients’ interests. While you excel at financial planning, you may not possess the legal expertise to handle complex disputes. Here are some scenarios where their involvement can protect your client’s interests:
- Disputes Over Trust Administration: When disagreements arise among trustees and beneficiaries regarding the interpretation of trust terms, asset distribution, or trustee conduct;
- Challenges to Wills and Estates: If there are contests to a client’s will, disputes over inheritance rights, or allegations of undue influence in estate planning;
- Breach of Fiduciary Duty Claims: When there is suspicion or evidence that a fiduciary has acted improperly, such as through self-dealing, mismanagement of funds, or conflicts of interest; and
- Financial Exploitation: In cases where a client has been a victim of financial exploitation orfraud.
Craig M. Frankel, a founding partner of Gaslowitz Frankel, emphasizes the importance of early intervention. “Addressing these issues promptly can often prevent further damage and lead to more favorable outcomes for your client,” Frankel notes. “As a wealth manager, you play a key role in identifying these situations early on.”
How Fiduciary Attorneys Help When Emotions Run High
Fiduciary disputes often involve complex legal and financial issues, but they are also frequently charged with strong emotions. Disputes among family members, beneficiaries, or business partners can be particularly sensitive and challenging to resolve for your clients. Fiduciary litigation attorneys play a crucial role in navigating these emotional complexities:
- Objective Counsel: Fiduciary attorneys provide an objective perspective, helping your clients make rational decisions based on the law and facts of the case, rather than being swayed by emotions.
- Mediation and Negotiation: Many fiduciary disputes can be resolved through alternative dispute resolution methods like mediation and negotiation. Fiduciary attorneys are skilled in these processes, helping to facilitate communication and find mutually agreeable solutions for your clients.
- Protecting Client Interests: Ultimately, fiduciary attorneys prioritize protecting your client’s legal and financial interests. They advocate for your client’s rights and work to achieve the best possible outcome in the dispute.
“In fiduciary litigation, emotions often run high, but it’s essential to maintain a focus on the legal and financial issues at stake,” says Robert C. Port, a business litigation attorney with extensive experience in fiduciary disputes. “Our role is to provide clear guidance and strong advocacy for our clients during these challenging times.”
Wealth managers like you play a crucial role in your clients’ financial lives, but when disputes arise that involve fiduciary duties or complex legal issues, the expertise of fiduciary litigation attorneys becomes invaluable. Gaslowitz Frankel serves individuals and estate planning, trust, business, and family law firms, as well as wealth management and banking managers and their clients in Georgia and across the Southeastern United States. These attorneys provide the specialized knowledge, objective counsel, and advocacy skills necessary to navigate these challenging situations and protect your clients’ financial well-being. For trusted estate law and fiduciary legal guidance, consult with the attorneys of Gaslowitz Frankel.
