When creating an estate plan, selecting the people that will serve in the various fiduciary roles is one of the most daunting tasks involved. Deciding who to nominate as the executor of a will, trustee of a trust, agent under a power of attorney, heathcare representative, designated conservator or guardian of children can be a difficult choice because you have to think about the level of trust you have in that person, and whether they would make the same decisions you would make.
For a variety of reasons, people planning their estates may want to have a third-party fiduciary responsible for executing the financial aspects of the plan. This usually involves a third-party serving as executor of a will or as trustee of a trust in order to make sure that the overall intent of the plan is carried out. Accepting nominations for such fiduciary roles is an option that we will undertake if requested by a client during the estate planning process.
Similarly, we are sometimes requested to serve in a fiduciary role even when a will or a trust nominates someone else as a fiduciary. Many times, it is the nominated fiduciary that asks us to discharge this function, often because the person nominated doesn't have the time or desire to serve as fiduciary. Whatever the reason, this is something we are willing to consider if it would be of assistance to the nominated fiduciary or other family members.