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Fiduciary Law

Florida Fiduciary Law Attorneys

Your Trusted Guide through Fiduciary Matters

Fiduciary law refers to the overseeing of trusts or other personal interests. A fiduciary is someone who has the responsibility – also known as the duty of loyalty – to another individual or entity to safeguard their interests. These can include as a trustee of a testamentary trust, an executor of a will, the guardian of an estate of a minor, the conservator of the estate or interests of an individual deemed incompetent, and administrator of the estate of a family member or descendant, or other such legal responsibilities.

A fiduciary may have one of many different individuals, including an

  • Administrator
  • Curator
  • Conservator
  • Executor
  • Guardian
  • Receiver
  • Trustee in a bankruptcy
  • Assignee for the benefit of creditors
  • Partner
  • Agent
  • Officer of a corporation
  • Public officer
  • Any other person acting in a fiduciary capacity for any individual, trust, or estate

Fiduciaries may also be required to hold funds and assets in a special account and file periodic records or inventories with the court. A fiduciary has a duty not to benefit themselves at the expense of the person for whom they are responsible. A fiduciary must also avoid conflicts of interest or “self-dealing” in which the potential benefit to the fiduciary conflicts with what is best for the person who trusts him or her.

If you have questions about fiduciary law or your responsibilities as a fiduciary, The Berman Law Group has answers. Our fiduciary law attorneys in Florida can answer your questions and represent your best interests.

Contact us online or call us at (800) 883-5206 to request a free consultation.

What to Know About Fiduciary Law Attorneys

Just as a fiduciary is legally obligated to act in the best interests of the estate, trust, or individual who they have been selected to act for, a fiduciary lawyer is obligated to act in the best interests of both the fiduciary and its beneficiaries. These responsibilities are often referred to as the “Four C’s.”

The Four C’s are:

  • Confidentiality – Fiduciary attorneys should maintain confidentiality on all aspects of their representation.
  • Competence – A fiduciary lawyer must utilize all of their abilities for the benefit of their client.
  • Communication -A fiduciary lawyer must communicate any and all information to the client, so that they may make an informed and unhindered decision based upon their own judgments and free from any legal interference.
  • Conflicts of Interest – Fiduciary lawyers should seek to avoid anything that may put their own interests before that of their client of the trusts they oversee.

How We Can Help You

At The Berman Law Group, we offer a variety of fiduciary law services.

These services include:

  • Probate administration
  • Estate/trust litigation
  • Trust administration
  • Guardianship

Trust Administration

When someone dies, the administration of their trust can be a daunting task. A trustee is named to carry out the wishes of the person who created the trust. This is known as trust administration. Trustees have the legal authority, responsibility, and fiduciary duty to manage the trust’s assets.

Different types of trusts include:

  • Charitable remainder trust
  • Charitable lead trust
  • Grantor retained annuity trust
  • Domestic asset protection trust
  • Qualified domestic trust

According to Florida Statute 736, trustees have many duties and liabilities for which they are responsible.

These duties state that the trustee:

  • Has a duty to administer the trust in good faith. This responsibility includes the terms and purposes of the trust and in the interests of the beneficiaries.
  • Owes the trust beneficiaries a duty of loyalty to administer the Trust “solely in the interests of the beneficiaries.”
  • Owes the trust beneficiaries a duty to “act impartially in administering the trust property. This means giving due regard to the beneficiaries’ respective interests.”
  • Shall administer the trust as a prudent person would. This entails considering the purposes, terms, distribution requirements, and other circumstances of the Trust. It also means they shall exercise reasonable care, skill, and caution.
  • Should take reasonable steps to protect the trust property and assets.
  • Owes a duty to keep the beneficiaries of the trust reasonably informed about all monies, funds, assets, and personal property that came into his possession as Trustee, and which were distributed, as well as to account for all assets, income, expenses, gains, or losses of the Trust.

Consult with Our Team Today

At The Berman Law Group, we have extensive experience in dealing with everything from probate administration to trust litigation. We will work closely with you to understand the nature of your fiduciary situation. From there, we can craft a strategy to get the results you seek. Whether it be establishing a trust or will, administering a trust of which you are a guardian or trustee, or seeking arbitration or litigation in the event of a dispute, The Berman Law Group’s knowledgeable team of fiduciary law attorneys is here to help you.

If you have been named as the personal representative of a deceased individual in the State of Florida or you wish to dispute the actions of someone who has, you should seek legal counsel immediately. Trust litigation can be a stressful time for all involved.

Call The Berman Law Group right now at (800) 883-5206 for your free consultation.

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