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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