A recent appellate opinion helps you understand what is fiduciary duty Florida. While common in Florida probate and trust cases, this one was about a contract. Who owes you a fiduciary duty Florida? There are three important “legal actors” who you need to know about when considering fiduciary duty Florida. First, there are those who are so-called “official” fiduciaries. Like Trustees, Personal Representatives or executors of estates. And powers of attorney, also called an attorney-in-fact. Those legal actors are, by definition, fiduciaries. They have agreed to serve, and owe duties of loyalty to their principal or beneficiaries. The law is clear. And there can be a LOT of fiduciary duties. They also agree to put the interests of those who they have agreed to serve above their own. There are a LOT of duties for a trustee. Same for a Personal Representative or executor of a Florida probate or estate. A POA = same thing. (even though the Florida laws call a POA an “agent.”) Who else owes you those duties? Working hard…… The 2nd group? Those who are not “per se” fiduciaries, may become one. How? If they accept a role of serving another. If they are given trust and confidence, and they accept that, and act on it. They then owe a duty. Or maybe multiple duties. And, if they screw up, they can be sued for breach or even surcharge. To read free Florida legal blogs about breach, click here. Contracts = no duty But most contractual […]

If someone helped a fiduciary breach their fiduciary duty, is that someone responsible, too? A March 24, 2021 appeal from Florida’s 3rd District Court of Appeal discusses aiding and abetting a breach of fiduciary duty in Florida. We have previously commented on Breach of Fiduciary Duty under Florida law. Now, let’s consider this new case. Miami Dade Appeals Court Decision The Miami Dade Appeals Court, the 3rd DCA, issued its opinion in Grape Leaf Capital, Inc. v. Lafontant. In that case, a Personal Representative of a Florida estate was alleged to have received a loan. The “executor” was alleged to have entered into a loan agreement in exchange for proceeds to be recovered from a wrongful death case. In Florida, a wrongful death case is brought on behalf of the estate. The court-appointed Personal Representative of the Florida Probate is the plaintiff. (For a September 15, 2021 4th District Court of Appeal opinion involving this legal topic, click HERE.) Miami Dade Probate In this recent appeal case, some lawyers were alleged to have “substantially assisted” the personal representative breaching her fiduciary duty. A breach of fiduciary duty exists when you have the following. A duty owed to someone, a breach of a duty that causes damage. So, what does aiding and abetting a breach of fiduciary duty mean? A cause of action, or lawsuit, for aiding and abetting a breach of fiduciary duty is comprised of 4 things or elements. First, you need to have a fiduciary duty. Second, a […]