What is a professional fiduciary and why would I use one in my estate plan?
A professional fiduciary is an individual or an entity that specializes in administering estates. Many fiduciaries are attorneys or other professionals that have experience in this process. You may appoint a fiduciary as executor of your will or the trustee of your trust. Appointing a fiduciary may be a good idea if your family members are unable to act as your trustee because they live far away or because they are not financially savvy. It can also be useful to have a professional fiduciary as your executor or trustee if the beneficiaries of your will or trust do not get along. Having a professional fiduciary who is impartial can help ease tension between fighting beneficiaries and will ensure that your last wishes are honored.
If you would like to learn more about your options regarding professional fiduciaries, set up an appointment to come in and speak with us (619) 222-5500.