A fiduciary is required to act in the very best interest of their client. A breach of fiduciary duty occurs when the fiduciary benefits at the expense of the client.

Types of fiduciary relationships:

• Doctor to patient
• Director to company
• Trustee to beneficiary
• Lawyer to client
• Agent to principal
• Partner to partner
• Guardian to ward
• Employer to employee

Examples of Breaches include:

• Obtaining an unauthorized financial benefit at the expense of the ward.
• Derives a profit that should have gone to the beneficiary.
• The fiduciary has conflicting duties.

A fiduciary is defined as “a person to whom property or power is entrusted for the benefit of another.”

When filing a claim for breach of fiduciary duty in Illinois, a plaintiff must prove:

• A fiduciary duty existed
• The defendant breached that duty
• The breach caused the plaintiffs injury

As with any complex legal matter, it’s best to seek the advice of a legal team with experience in business litigation.