Problems With Fiduciaries
Start here to read about problems with executors, trustees and other fiduciaries.
Duties of a Fiduciary in Texas
- Ensure that all transactions are fair and equitable to the beneficiary.
- Make reasonable use of any confidence the beneficiary places in him.
- Act in the utmost good faith and exercise the most scrupulous honesty toward the beneficiary.
- Place the interest of the beneficiary before his own and not use his position to benefit himself at the expense of the beneficiary.
- Fully and fairly disclose important information to the beneficiary.
The following are fiduciaries:
If you don't feel that a fiduciary who controls your money or property is looking out "only" for your interest, there may be a problem.
A fiduciary may incur great liabilities if he is not looking out "only" for the interest of the beneficiary.
Remember a fiduciary whether it is someone who has a power of attorney, is an executor or administrator in probate, or is a trustee they are just managing "your" property.
Trustee
A trustee is a fiduciary and owes the utmost duty.
Executors & Administrators
Executors and Administrators are fdiduciaries.
Power of Attorney
A person with a power of attorney is a fiduciary.
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This page is general information about Texas law. It is not legal advice about your situation, and reading it does not create an attorney–client relationship. These matters turn heavily on specific facts and specific dates, and the law has exceptions this page does not cover. You should not take, or refrain from taking, any action based on this page. Discuss your circumstances with an attorney who can advise you on them.