Boston Fiduciary Lawyer - Berluti McLaughlin & Kutchin LLP

When financial or legal matters involve one person managing property or money for another, fiduciary duties come into play. These fiduciary duties, which include acting in another’s best interest and managing assets with care and honesty, are critical in estate planning, trust administration, and business relationships. If you suspect a fiduciary has breached a duty or you need help fulfilling your fiduciary obligations, a Boston fiduciary lawyer can help.

At Berluti McLaughlin & Kutchin LLP (BMK), we provide experienced, practical legal counsel for fiduciaries, beneficiaries, and others navigating trust, estate, or financial matters. Our firm has earned a reputation in Boston for delivering sophisticated, cost-effective representation backed by decades of trial advocacy, business law, and client services. We help individuals and businesses to understand their rights and responsibilities and resolve disputes with integrity, diligence, and personalized attention.

What Is a Fiduciary?

A fiduciary is someone who is legally obligated to act in the best interests of another party. A person or entity becomes a fiduciary when someone authorizes them to manage assets, finances, or decisions for them. The fiduciary then gains several duties.

A fiduciary acts on behalf of their principal, while their beneficiaries are the parties they act to benefit. For example, a power of attorney must act on behalf of the person who created the power—the principal. A trustee acts as a fiduciary for the trust’s beneficiaries, such as the creator’s children. In some cases, the principal and beneficiary are the same person.

Types of Fiduciaries

Fiduciary relationships arise in many legal and financial contexts, such as:

Estate administration. A personal representative (executor or administrator) manages a deceased person’s estate, which includes valuing assets, paying debts, and distributing property. The representative owes duties to the estate and its beneficiaries.
Trust administration. A trustee manages a trust according to its terms and owes duties to the trust, its creator, and its beneficiaries.
Business governance. Corporate officers and board members who operate a business have fiduciary duties to the company and its shareholders.
Financial and legal grants of authority. Powers of attorney grant someone (an “agent”) the right to act on behalf of someone who cannot manage their affairs. The agent owes duties to the person covered (the principal).
Guardianships and conservatorships. Court-appointed individuals manage personal or financial decisions for those unable to do so themselves. The guardian or conservator owes duties to the person in the arrangement.

Each fiduciary role requires careful adherence to the fiduciary’s legal duties.

Fiduciary Duties

Being a fiduciary comes with specific legal obligations called fiduciary duties. While the specifics of these duties can vary by role, they include:

Duty of loyalty—putting the beneficiary’s or principal’s interests above personal gain, avoiding conflicts of interest;
Duty of care—managing assets prudently and making informed decisions;
Duty of good faith—acting with honesty, fairness, and fidelity;
Duty of disclosure—providing complete and accurate information when required; and
Duty to account—keeping accurate financial records and providing those records to beneficiaries.

Principals and beneficiaries may be entitled to sue if a fiduciary breaches one or more of their duties.

Breach of Fiduciary Duty

When a fiduciary fails to act in the principal’s or beneficiary’s best interests, they breach their fiduciary duty. For example, a breach may involve:

Misusing assets,
Failing to disclose important information,
Acting in self-interest, or
Neglecting financial recordkeeping.

If a fiduciary breaches their duties, beneficiaries may pursue remedies. These include:

Monetary damages—compensation for financial losses caused by the breach;
Restitution—return of misused or wrongfully taken assets;
Removal of the fiduciary—court action to release the fiduciary from their role;
Injunctions—court orders to stop the fiduciary from continuing harmful conduct; and
Accounting—legal requirement for the fiduciary to provide a detailed report of financial transactions.

Breaches can cause significant financial harm, and the fiduciary may be personally liable for deliberate wrongdoing.

What a Fiduciary Lawyer Does

A fiduciary lawyer provides legal services to individuals and entities involved in fiduciary relationships. We help clients understand their responsibilities, comply with applicable laws, and resolve disputes efficiently.

At BMK, our fiduciary services include:

Advising trustees, executors, agents, and other fiduciaries on compliance and risk management;
Representing beneficiaries in disputes over breaches;
Assisting with trust and estate administration;
Pursuing or defending parties in cases involving claims of fraud, carelessness, or other potential breaches;
Negotiating and resolving conflicts among beneficiaries, fiduciaries, and others; and
Drafting and reviewing legal documents like powers of attorney, trust agreements, and wills.

Some of these tasks involve courtroom litigation, while others do not. Not every fiduciary lawyer is a fiduciary litigation attorney. BMK’s fiduciary services cover out-of-court services, like drafting legal agreements, and litigation services, like suing someone.

Frequently Asked Questions (FAQs)

What Does a Fiduciary Lawyer Do?

A fiduciary lawyer advises and represents individuals or entities involved in fiduciary relationships. We provide guidance on legal duties, assist with administration, and help resolve disputes.

Can a Fiduciary Lawyer Represent Beneficiaries?

Yes, a fiduciary lawyer can represent beneficiaries involved in fiduciary relationships.

When Should I Hire a Fiduciary Lawyer in Boston?

Consider hiring a fiduciary lawyer if you:

Are serving as a fiduciary and need legal guidance,
Suspect a fiduciary has mismanaged assets or acted improperly,
Are involved in a dispute related to a trust or estate, or
Need help interpreting fiduciary documents or responsibilities.

Early legal support can prevent mistakes, limit liability, and protect your interests.

Talk to a Boston Fiduciary Lawyer at BMK Today

Fiduciary relationships require trust, care, and legal precision. When disputes arise or guidance is needed, turn to a Boston fiduciary lawyer who understands the stakes. At BMK, we have helped individuals, families, and businesses navigate these sensitive matters with skill and integrity since 1985. Our team provides practical, personalized guidance to help you meet your responsibilities and protect your rights.