Being named to a trustee, personal representative (“executor”), power of attorney or other probate agency role is both an honor and a responsibility. Someone has placed a great deal of trust in you. You now have a great responsibility to fulfill that trust. Without proper legal guidance, many people in these roles fall into a trap for the unwary, making mistakes or failing to act in ways that create the potential for costly litigation for themselves and even personal liability.
At the Linden Law Firm,PLC, we work to ensure that issues are not overlooked. With more than 20 years of experience, our Metro Detroit probate attorneys can give you the legal guidance you need to adequately fulfill your fiduciary duties.
What Is A Fiduciary?
What Does A Fiduciary Do?
A Fidcuary can be a trustee, personal representative, executor, guardian, conservator, attorney-in-fact or other form of agent. Fiduciary administration of trusts, estates, guardianships and conservatorships is a sensitive area. A fiduciary is the person legally responsible for administration the trust, estate or affairs of another and has a responsibility to fulfill the intent of the principal, testator or grantor (the person who established the trust, will or the subject of the power of attorney, guardianship or conservatorship). That often involves balancing the competing interests of several beneficiaries or even protecting the assets from an adult beneficiary who wants to gain more control. Administration of these matters may be simple, or it may be as complex as running a small business or investment company.
PROBATE AND TRUST ADMINISTRATION COUNSEL
We provide guidance and counsel for probate, trust and other fiduciary administration issues that include:
- Compliance:Personal representatives and trustees are bound by a fiduciary duty to always act in the principal’s best interest. In some cases, even simple mistakes can lead to conflicts and possible probate litigation. We can help you comply with relevant laws regulating probate administration and fulfill your duties as a fiduciary.
- Debts and collections: We can help you make sure to settle all debts and tax arrearages before distributing assets to beneficiaries. Often, we can help in even reducing the debts of your loved ones and preserving assets for beneficiaries.
- Distribution:If the deceased created an estate plan with any sort of ambiguity, we can help you sort through the issues to make sure the heirs receive assets according to the testator’s intentions.
- Filings and accountings:There are strict guidelines and deadlines for filing and rendering accountings. We can assure that you are aware of and meet all these requirements.
- Probate litigation:We represent fiduciaries and beneficiaries in probate litigation when wills, trusts and other probate disputes arise.