As part of your estate planning process, you will be asked to name successor fiduciaries (personal representatives and/or trustees) for your estate. Being named personal representative of someone’s will or successor trustee of someone’s trust imposes both a legal and fiduciary responsibility. If not handled properly, the estate can suffer additional burdens. Often, the attorney who performs your estate planning is the best person to assist successor fiduciaries or even to personally administer your estate when you die. A successor fiduciary must wrap up your affairs, arrange for payment of any debts and taxes, and distribute the remaining property to the heirs of the estate. An attorney will be able to ensure that all laws are followed, and the value of the estate remains as you intended.
The Estate Planning attorneys at Chapman Law Group assist numerous fiduciaries and also serve as the successor fiduciary for many of our clients. We are proud to serve their families for future generations
Send this to a friend