Chapter 12. What Happens If You Are Appointed as a Fiduciary?
Just as you’ve been considering your estate planning and the care of your loved ones, young and old, so have your friends and family. You’ve identified them to act for you as Executors, Trustees, and Guardians. It’s likely they’ve identified you as well. So what happens when you’re called upon to serve? Here are a few things you should know—and do.
First, being nominated or appointed as a fiduciary doesn’t mean you have to take on the job. You are always given the power to renounce, or say no thank you, to your appointment. It’s much wiser to pass than be saddled with responsibilities that you just can’t handle. Many of the fiduciary litigations we see involve Executors or ...
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