Cause of Action for Breach of Fiduciary Duty

  1. Law
  2. Georgia Code
  3. Guardian and Ward
  4. Conservators of Adults
  5. Removal of Conservator for Other Reasons
  6. Cause of Action for Breach of Fiduciary Duty

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  1. If a conservator commits a breach of fiduciary duty or threatens to commit a breach of fiduciary duty, a ward or an interested person on behalf of the ward shall have a cause of action as appropriate:
    1. To recover damages;
    2. To compel performance of the conservator's duties;
    3. To enjoin the commission of a breach of fiduciary duty; or
    4. To compel the redress of a breach of fiduciary duty by payment of money or otherwise.
  2. When the ward's assets are misapplied and can be traced into the hands of persons who have notice of the misapplication, a trust shall attach to the assets.
  3. The provision of remedies for breach of fiduciary duty by this Code section does not prevent resort to any other appropriate remedy provided by statute or common law.

(Code 1981, §29-5-93, enacted by Ga. L. 2004, p. 161, § 1.)

OPINIONS OF THE ATTORNEY GENERAL

Editor's notes.

- In light of the similarity of the statutory provisions, opinions under former Code 1933, § 49-232 are included in the annotations for this Code section.

Use of estate funds should accompany petition to revoke guardianship.

- One who has been adjudged insane and confined to state mental hospital and who desires to use funds in estate for purpose of proving that sanity has been restored, should properly proceed by making application to ordinary (now judge of probate court) for revocation of letters of guardianship. 1952-53 Op. Att'y Gen. p. 373 (decided under former Code 1933, § 49-232).

RESEARCH REFERENCES

Am. Jur. 2d.

- 39 Am. Jur. 2d, Guardian and Ward, § 162 et seq.

C.J.S.

- 39 C.J.S., Guardian and Ward, §§ 4, 78, 80, 81, 255, 256.

ALR.

- Liability of guardian, or his surety, as affected by agreement by which he limits his control over funds or investments, 102 A.L.R. 1108.

Improper handling of funds, investments, or assets as ground for removal of guardian of infant or incompetent, 128 A.L.R. 535.


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