Things To Consider When Choosing A Fiduciary

When choosing someone to choose an executor, guardian, or trustee of your will, be sure to choose a fiduciary. Many advisors can handle the basic guidelines of your will or trust, but not all of those are fiduciaries. The difference is that a fiduciary makes financial or other decisions for you, while a financial advisor will recommend products or actions. So how do you choose a fiduciary? The process is complex, but the following list of attributes is an excellent place to start.

Why Is It Important To Choose A Fiduciary?

  1. Financial Capability – Your estate consists of debts, assets, and obligations plus heirs and beneficiaries. An excellent fiduciary will know about taxes, estate law, and other skills that help them handle all the decisions required to fulfill the demands of your estate. That means handling investments, handling taxes, trusts, payments, and legal issues that surround the dispersal of monies.
  2. Medical and Health Issues – If you are incapacitated, a fiduciary may have to make medical decisions or care decisions based on the circumstances and steps outlined in your will, trust, or medical documents. These roles sometimes fall to a spouse or family member and sometimes to the fiduciary.
  3. Heirs, Conflict, and Dispensing of Monies or Assets – In many cases, some conflicts arise between heirs. An excellent fiduciary will be strong enough to resolve conflicts and prevent future conflicts between heirs and beneficiaries. However, when this job falls to family members, there is a conflict of interest which can ignite further conflicts.

Call Charles Stark Today For More Information About Choosing A Fiduciary.

Choosing the best fiduciary for your estate is complex. However, if you have done an excellent job setting up your will or trust, much of the work involved in managing an estate is spelled out clearly. That process begins when you make decisions about your last wishes while planning your estate.

Charles Stark has the experience and expertise to serve as a fiduciary and estate planning attorney. His more than 40-years of legal experience makes him a powerful asset when planning an estate and managing it. He has access to knowledgeable financial resources, handles and prevents conflicts, and follows the guidelines set out in a will or advanced directive for medical care and end-of-life matters. Attorney Stark also has no conflict of interest, making him your best choice for fiduciary or attorney for estate planning in Sonoma County.

Learn more about how Attorney Stark can help you create a will or trust that explains and protects your final wishes by reaching out to him or his team.

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