Breach of Fiduciary Duty in Florida
Breach of fiduciary duty occurs when a person in a position of trust fails to act in the best interest of the party they serve. Florida imposes fiduciary obligations on trustees, attorneys, corporate officers, real estate agents, and other positions of confidence.
Elements
Florida plaintiffs must prove the existence of a fiduciary relationship, a breach of the duty of care or loyalty, causation, and damages. In self-dealing transactions, Florida courts shift the burden to the fiduciary to prove the transaction was fair and fully disclosed. This burden-shifting reflects the heightened obligation fiduciaries owe.
Remedies
Florida courts award compensatory damages, disgorgement of wrongful profits, constructive trusts over improperly obtained assets, injunctive relief, fiduciary removal, and in egregious cases, punitive damages. Attorney's fees may be available under the trust code, corporate statutes, or contractual provisions.
Related Terms
Barnes Walker Litigation
Barnes Walker litigates fiduciary duty claims for individuals and businesses throughout Southwest Florida. Contact us for guidance.
Reviewed by the attorneys at Barnes Walker, Goethe, Shea & Robinson, PLLC