What is a breach of fiduciary duty claim?

In Washington, a breach of fiduciary duty claim is a type of insurance claim that arises when a person or entity fails to fulfill their duty of trust. A fiduciary duty requires a person or entity to act in the best interests of another. This can include using precautionary measures to protect the principal’s assets or investments, providing accurate and complete financial advice, and avoiding conflicts of interest. When a person or entity breaches their fiduciary duty, it can result in major financial losses for the principal. In Washington, a breach of fiduciary duty claim—often referred to as a “breach of trust” claim—allows the principal to seek compensation for their financial losses caused by the breach. To prove a breach of fiduciary duty claim in Washington, the principal must generally show that: (1) the person or entity had a fiduciary duty to the principal; (2) the person or entity breached their duty; (3) the breach caused the principal’s damages; and (4) the principal suffered financial losses as a result of the breach. Other types of fiduciary duty violations can also be pursued in Washington, such as constructive fraud and self-dealing. Depending on the circumstances, these claims may be brought against individuals, corporations, financial advisors, or other parties. If you believe that you have suffered a financial loss due to a breach of fiduciary duty, it is important to speak to an experienced attorney who can help you understand your legal rights in Washington.

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What is a breach of fiduciary duty claim?

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