Fiduciary Services
A fiduciary is someone entrusted to act in another person's best interest. Whether you need guidance fulfilling a fiduciary role or help selecting the right person to serve in one, we provide the counsel and representation to get it right.
Fiduciary Roles in Estate Planning
Estate plans rely on trusted individuals filling several distinct legal roles — each with its own duties, authority, and timing.
Executor / Personal Representative
Administers the probate estate after death — gathering assets, paying debts, filing tax returns, and distributing property to beneficiaries according to the will. The role requires prompt action, careful recordkeeping, and strict compliance with court deadlines.
- Opens and manages the probate proceeding
- Pays valid debts, expenses, and taxes
- Distributes assets and files a final accounting
Trustee
Manages trust assets and makes distributions according to the trust's terms, for the benefit of the beneficiaries. May serve during the grantor's lifetime or only after death.
Agent Under Power of Attorney
Makes financial and legal decisions on behalf of the principal when the principal is unable to do so — without court involvement.
Healthcare Agent
Makes medical decisions for an incapacitated person, guided by their healthcare directive and known wishes, when the principal can no longer communicate.
Guardian / Conservator
Court-appointed role to manage the personal affairs or financial assets of a minor or incapacitated adult when no other legal authority is in place.
Trust Protector
An independent party empowered to modify trust terms, remove or replace trustees, or take other protective actions as circumstances change over time. Often used in long-term trusts — such as special needs or dynasty trusts — where flexibility is critical to carrying out the grantor's intent across decades.
Core Fiduciary Duties
All fiduciaries — regardless of role — share fundamental legal obligations. Failure to meet these duties can result in personal liability, surcharge, or removal by a court.
Duty of Loyalty
Act solely in the interest of the beneficiaries, avoiding all conflicts of interest.
Duty of Prudence
Manage assets with the care, skill, and caution of a prudent person under similar circumstances.
Duty of Impartiality
Balance the interests of current and remainder beneficiaries fairly — neither favoring income nor growth.
Duty to Account
Keep accurate records and provide regular formal accountings to beneficiaries upon request.
Duty to Inform
Keep beneficiaries reasonably informed about the administration and any material decisions.
Duty to Segregate
Keep fiduciary assets strictly separate from personal assets at all times.
How We Help Fiduciaries
Whether you are newly appointed or facing a dispute, we provide practical legal support at every stage of your role.
- Advising newly appointed trustees, executors, and agents on duties and authority
- Reviewing governing documents to clarify scope of authority
- Preparing and reviewing accountings to protect against disputes
- Petitioning the court for instructions in ambiguous situations
- Defending fiduciaries in surcharge actions or removal proceedings
- Assisting fiduciaries who wish to resign and transition to a successor
Choosing the Right Fiduciary
Selecting a fiduciary is one of the most important decisions in estate planning. The role requires not just trustworthiness, but organizational competence, availability, and the ability to remain impartial under family pressure.
Many people discover that a trusted family member is not the right fit — not because of character, but because of the demands involved. We help evaluate candidates, explain what each role entails, and recommend professional or corporate fiduciaries when appropriate.
When Is a Professional Fiduciary Appropriate?
Consider a professional fiduciary when the estate is large or complex, when family dynamics make impartiality difficult, when no trusted individual is available or willing to serve, or when the trust is expected to last many years — such as a trust for a minor or a special-needs trust. Professional fiduciaries charge fees, but their expertise often reduces costly mistakes and disputes.
Frequently Asked Questions
Can I name the same person as executor, trustee, and agent under power of attorney?
Yes, and it is common to do so. However, each role is legally distinct and activates at different times. We explain each role clearly so your chosen person understands what they are agreeing to.
What if a fiduciary is not doing their job?
Beneficiaries have the right to demand an accounting and, if necessary, petition a court to surcharge or remove a fiduciary who has breached their duties. We represent both fiduciaries defending their conduct and beneficiaries seeking accountability.
Can a fiduciary be compensated?
Yes. Executors and trustees are generally entitled to reasonable compensation from the estate or trust. The governing document may specify a fee, or state law may provide a default standard. We advise on what is appropriate and how to document compensation properly.
I was named as a fiduciary but don't want to serve. What do I do?
You may decline or resign from a fiduciary role. The process depends on the type of role and whether a successor is named. Contact us before taking any action — declining improperly or at the wrong time can create complications for the estate.
Serving as a fiduciary or choosing one?
We can help you fulfill the role confidently or select the right person for the job.
Schedule a Consultation