Can a Personal Representative and Trustee also be the financial advisor for a beneficiary of the Trust?
Get Legal Help Today
Compare Quotes From Top Companies and Save
Secured with SHA-256 Encryption
Can a Personal Representative and Trustee also be the financial advisor for a beneficiary of the Trust?
Asked on September 14, 2012 under Estate Planning, Maine
Answers:
M.T.G., Member, New York Bar / FreeAdvice Contributing Attorney
Answered 11 years ago | Contributor
Are you asking if it would in any way be a conflict? There are potential conflicts in any situation where those that hold a fiduciary position take on more than one "job" so to speak. But as long as there is full disclosure as t the duties they hold in their fiduciary capacity and no conflict of interest it could potentially be fine. I would err against it though. Good luck.
IMPORTANT NOTICE: The Answer(s) provided above are for general information only. The attorney providing the answer was not serving as the attorney for the person submitting the question or in any attorney-client relationship with such person. Laws may vary from state to state, and sometimes change. Tiny variations in the facts, or a fact not set forth in a question, often can change a legal outcome or an attorney's conclusion. Although AttorneyPages.com has verified the attorney was admitted to practice law in at least one jurisdiction, he or she may not be authorized to practice law in the jurisdiction referred to in the question, nor is he or she necessarily experienced in the area of the law involved. Unlike the information in the Answer(s) above, upon which you should NOT rely, for personal advice you can rely upon we suggest you retain an attorney to represent you.