What Is Fiduciary Responsibility?

For victims of personal injury accidents, workplace injuries, or car crashes, finding a reliable accident lawyer to represent them can be a stressful process. Victims may wonder which lawyers they can trust and how to determine which lawyers will put their best interests first. When dealing with the difficult circumstances surrounding an accident-related injury, the last thing you should be concerned about is whether or not you’re being fairly and justly represented by your legal counsel. To help ease your mind, let’s discuss fiduciary responsibility — a legal term that refers to lawyers’ duty to their clients.

What Is Fiduciary Responsibility? 

Fiduciary responsibility, also known as fiduciary duty, is a legal term outlined under the United States legal system that describes the relationship between two parties in which one party, known as a fiduciary, has a legal obligation to act fully in the best interest of the other party, called a principal. Fiduciary duty is the foundational trust that supports all legal entities, business relationships, medical relationships, and more. When it comes to the accident attorney-client relationship, the accident attorney is considered the fiduciary and the client is the principal. 

In legal terms, it can all be a little confusing. So what does that all mean, exactly? Essentially, it comes down to the ability to rely on your legal counsel to exercise their best possible expertise to act on your behalf. Fiduciary responsibility means that the attorney has a legal duty to take great care in relation to you, their client, and ensure that they honor your trust and confidence. 

Breaches in Fiduciary Responsibility

As with any relationship, business or otherwise, there is the potential for breaches in trust. When it comes to fiduciary responsibility with regard to accident attorneys, breaches can occur if the legal team fails to act ethically or doesn’t follow set legal standards during the time their binding fiduciary relationship is active. Although rare, it’s important to understand that if a breach occurs, lawyers can face a variety of consequences that are devastating to their career, their licenses, their financial stability, and their reputation as it pertains to both clients and the legal community. 

With that in mind, it’s safe to say that law firms with positive reputations, a history of successful practices, and active law licenses take their fiduciary responsibilities extremely seriously, ensuring their clients receive the best possible legal representation. When looking for an accident attorney to represent you, consider factors such as client experience, years in business, and achievements in the field to help determine if a firm is reliable and trustworthy. 

The Lopez Law Group — Dedicated to Our Clients

At The Lopez Law Group, we believe that victims and their families deserve quality, experienced, and dedicated representation. We take our fiduciary responsibility as legal professionals very seriously, because we genuinely care about each of our clients. Our accident attorneys are committed to helping victims of personal injuries, car accidents, and workplace injuries get the compensation they deserve — and we can only do so by giving our clients our utmost respect and professionalism. 

Our reputation precedes us, as we have been offering the best possible legal services to the Weslaco and Rio Grande Valley area for decades. Our accident attorneys understand the pain that accident victims go through, so we aim to make the settlement process as easy as possible by helping our clients understand their legal position, the factors that affect compensation, and the process of holding the at-fault party responsible for their negligence. 

To prove our commitment to our clients, we offer a free, no-obligation consultation during which we advise victims using our decades of expertise. In addition, we are so confident in our ability to provide trustworthy and reliable legal representation that our services are contingency-based, meaning we don’t get paid until we recover damages for you. 

Our Texas-based law firm is proud to serve Weslaco, Mission, McAllen, Laredo, Edinburg, Corpus Christi, Brownsville, Harlingen, Houston, Tyler, Spring, and other locations throughout the state. Contact us online or call (956) 968-7800 to schedule your free case consultation.