One of the most important decisions a client will make in formulating an estate plan is choosing his or her fiduciaries. Fiduciaries take many forms. They can be trustees of trusts, personal representatives (formerly executors) of estates and guardians over incompetent individuals. Fiduciaries are the individuals (or institutions) that will make the critical decisions that the client can no longer make because of death or the onset of disability. While good judgment is essential, the fiduciary must be guided by the client’s wishes as set forth in the estate plan. A good fiduciary can help quell in-fighting among beneficiaries and lessen costs to the estate. Often the appropriate candidate is a family member or a trusted friend. In other cases the role is best filled by an experienced professional such as a bank, trust company or lawyer.
Morrissey, Hawkins & Lynch offers fiduciary services upon request and has a skilled in-house trust administration department that supports our attorneys when serving as fiduciaries. Our attorneys have extensive experience serving as fiduciaries for our clients, either alone or in conjunction with a family member. Whether serving as fiduciaries or advising them, the lawyers at Morrissey, Hawkins & Lynch have extensive experience navigating the vast array of tax, probate and other laws that may come to bear on a client’s estate.