Written by attorney Zona Carol Douthit

Do's and Don't of Acting as an Estate Fiduciary

The fiduciary of the estate has a series of important responsibilities and duties. It is important to understand your role as fiduciary and your responsibilities because you will be held accountable for your decisions and actions.

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Are Your Own Affairs in Order? You are to be commended for your willingness to serve as a fiduciary. As you have discovered, it can be a very complicated, and often thankless, task. You were chosen because someone believed in you and knew you were up to the task.As the fiduciary for someone else’s estate, you have gained unique insight into the intricacies and complexities of taking care of the important responsibilities that must be assumed when someone dies. Now is a good time to structure your own estate plan. You want to ensure your loved ones can take care of things upon your death as efficiently as possible and that your beneficiaries are provided for in accordance with your wishes.

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