How We Can Help A Fiduciary
Increasingly top estate and trust litigation attorneys are
pursuing lawsuits against fiduciaries (and their advisors) for
breach of fiduciary duty. If the court finds that the fiduciary is
negligent or has intentionally violated his or her duties, the
fiduciary can be ordered to personally pay for any losses incurred
along with possible punitive damages and attorney’s fees.
A fiduciary takes on a very difficult job with many
potential pitfalls that could result in the fiduciary’s personal liability. Any
inexperienced fiduciaries are strongly urged to obtain competent legal,
investment and tax advice in order to eliminate or minimize their personal
liability.
Fiduciary
Services:
A
fiduciary can eliminate or minimize his or her personal liability by retaining
our firm to provide competent legal advice and to ensure that the fiduciary is
complying with the terms of the trust, will and durable power of attorney and
with Florida law. The services included in my fee for fiduciary
administration are:
-
Review of the terms and
provisions of the trust, will or durable power of attorney and explanation
of these terms to the fiduciary, along with determining if any of these
provisions are not valid under Florida law.
-
Oversight of the trust,
probate estate, or durable power of attorney to make sure these are being
administered based on the terms of the documents and based on Florida law.
-
Assistance
in re-registering the assets to indicate that the fiduciary has the
authority over these assets.
-
Sabal Trust
Company’s standard services as described below.
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Assistance
with properly delegating the fiduciary’s investment functions to an
investment agent so that the fiduciary is not responsible for the investment
decisions for the trust, estate or durable power of attorney.
-
Provide
information to the investment agent to develop the initial portfolio. Also
schedule periodic meetings to review the portfolio and to review any changes
in circumstances.
-
Assistance
with calculating any required distributions and assistance with determining
if a discretionary distribution is appropriate.
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