California Partition Law Blog
Fiduciary duties are legal obligations that one party owes to another in relationships involving trust, care, and loyalty. California law places significant emphasis on upholding these duties when fiduciaries, such as attorneys, fail to act in their client’s best interests, often for personal gain or through negligence. Breaches of fiduciary duties carry serious legal and financial consequences like lawsuits and other remedies including monetary damages. When a fiduciary breaches their duties, the injured party may seek legal recourse to remedy the harm caused.
What is a Fiduciary Duty?
Fiduciary duties are legal obligations requiring one party to act in the best interests of another, with the utmost good faith, loyalty, and care. Fiduciary duties arise in relationships entrusting one party with responsibilities that involve trust, reliance, and confidence. A “fiduciary” owes the “beneficiary” the fiduciary duties.