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  • Writer's pictureJerry Ipsen, CFE, MBA

Common Allegations Against Fiduciaries

Fiduciaries are human and for the most part are doing their best to abide by the terms of the trust. However, there are times when a family member or another beneficiary is dissatisfied with the acts of the Fiduciary. These issues often arise out of confusion, missteps by the Fiduciary or in some cases, intentional or fraudulent acts.

Common allegations towards the fiduciary include:

  • Misappropriation of trust funds or assets.

  • Failure to pay valid debts or liabilities.

  • Using funds from the trust for personal benefit.

  • Fraudulent, improper, or inadequate accounting.

  • Failure to abide by the terms of the trust.

  • Making imprudent investments or failing to invest funds at all.

Once an accounting is filed with the Court, the Court has the power to rule on the issues presented. It can be both the accounting and subsequent objections that require a party to act in order to “make things right.” This usually occurs after a trial is conducted by the Court on the accounting issues.

Ipsen Due Diligence is available to assist the plaintiff to investigate the above matters where allegations have been made or come to the aid of the defense in disproving the allegations made towards them.

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