How to Choose the Right Fiduciary - Fort Myers Estate Planning

A fiduciary is the person you select to be your estate executor, the trustee of a trust or someone granted your financial power of attorney.? Choosing the right fiduciary for these important roles takes forethought as well as insight you can gain from a Fort Myers estate planning attorney.

While many people may choose their child or other family member to act as fiduciary, it should be noted that it could be difficult for a child or family member to be truly objective.? In addition, if you have other children, they may not agree on how the estate should be managed or have difficulty communicating with each other, which could lead to long-lasting family strife.

People who find themselves in these situations may wish to investigate hiring a professional fiduciary like an accountant, a trust company or a bank that handles trusts.? When you create your Florida estate plan, your estate planning attorney can advise you on procuring a professional fiduciary.? Professional fiduciaries charge a fee, but since they usually have better asset management skills, which can grow your estate, this can be a wise investment.

If you still want to involve family members, you can give family members the right to discharge a professional fiduciary if they feel he or she is not doing a good job.?? This could give your family the peace of mind knowing they can ensure the estate is being managed to their satisfaction while alleviating them of the day-to-day management duties.

The Dorcey Law Firm, PLC is a Florida Estate Planning, Asset Protection and Business Planning law firm with offices in Fort Myers, Florida and Naples, Florida. Our firm is dedicated to its clients, the rule of law and the betterment of the Southwest Florida community.

It is our goal to provide our clients with the highest level of legal services in the areas of Last Will and Testaments, Probate and Estate Administration, Living Trust, Irrevocable Trusts, Estate Planning, Asset Protection, and complete Business Planning. If you or someone you know needs information on Florida estate planning, please contact us today at 239-418-0169 to schedule your free consultation.

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Source: http://www.fortmyersestateplanning.com/?p=2067

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