WHAT IS A FIDUCIARY?

A fiduciary is a person who assumes responsibility for a position of trust.

A Professional Fiduciary is used in many situations when there has been a death, such as an executor of a Will, a Trustee of a Trust, and an Administrator of an Estate if the decedent had no Trust or Will. A Professional Fiduciary may be used when someone can no longer manage their financial affairs, or when an appointed Trustee, personal representative or executor of an estate for whatever reason cannot act in a fiduciary capacity. A probate judge might appoint a Professional Fiduciary as a Conservator of the Person (the “Conservatee”) or of the Estate to make health care decisions and to manage the financial affairs of someone who can no longer do so.

 

How do you find the right Professional Fiduciary for you?

Ask your fiduciary these questions:

1. How are you compensated?

2. What is your training and your professional designation?

3. Are you a fiduciary?

4. What are your services and investment strategy?