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- Title
Selecting and Maintaining Appropriate Fiduciaries in an Estate Plan.
- Authors
Gardner, Randy; Daff, Leslie; Welch, Julie
- Abstract
The article focuses on the selection and maintenance of appropriate fiduciaries in estate planning. It states there are multiple cases in probate courts involving fiduciaries, who are executors of the will, successor trustees of living trusts, and who possess health-care powers of attorney. It comments on the problems of naming joint agents in health-care powers of attorney and mentions as an example the legal battle between the husband and the parents of Terri Schiavo, who was in a persistent vegetative state. It talks about financial fiduciaries and suggests that spouses or family members may not be the best choices in conflicted families. It also talks about methods of replacing or removing fiduciaries and recommends building in safeguards to deal with fiduciary incapacity or breaches of duty.
- Subjects
TRUSTS &; trustees; ESTATE planning; LIVING trusts; POWER of attorney; FAMILY conflict; PROBATE courts; SCHIAVO, Terri, 1963-2005; HEALTH care proxy
- Publication
Journal of Financial Planning, 2012, Vol 25, Issue 2, p30
- ISSN
1040-3981
- Publication type
Article