Professional Fiduciary or Family or Friend

What is a Professional Fiduciary and should you use one?

As an expert in trust litigation, there are many circumstances of change that can lead to disaster in choosing the wrong Fiduciary. When choosing a family or friend to manage the disbursement of financial assets, beneficiaries often find themselves wondering where the money went. They later find out the chosen Fiduciary or Successor Trustee has a problem with drug addiction, alcoholism and financial mismanagement to name a few. While there are ways to minimize the risk in choosing a non-professional for financial distribution, there are no guarantees. A Professional Fiduciary will follow the terms of the trust, safeguard the financial longevity of the trust funds and give you peace of mind. However, be sure the terms of the trust are clearly defined. Once the trust is irrevocable, the fiduciary must follow the instructions as they are. If you are considering assigning a successor trustee and would like more information on how you can protect the financial longevity of your trust, reach out to our firm today. We specialize in high net worth asset protection and our 40 years of experience provides a proactive approach in planning.