Alabama Fiduciaries Part I: Choosing the Right Fiduciary - On-Demand
Webinar is now available on-demand. NOTE: On-Demand webinars are not eligible for CLE credit.
Presented on: Thursday, August 24, 2017
WEBINAR SNAPSHOT: Choosing the “right” fiduciary is an important part of an estate plan – whether it is a personal representative, a trustee, or an attorney-in-fact. In the first part of this two-part webinar, the presenter discusses the different types of fiduciaries – personal representative, guardian, conservator, trustee, attorney-in-fact, and trust protector. He will also look at the standard of behavior required of the fiduciary.
Fiduciaries play a crucial role in executing a client’s estate plan. Giving sound advice can aid clients in preserving their wealth, in having someone to take care of the client and/or their funds when they are no longer able, and to ensure their assets are distributed in the way they want after their deaths. Attorneys play a critical role in seeing that clients make wise decisions in choosing their fiduciaries.
When selecting an executor or trustee, the client needs a person with good basic knowledge but also someone who knows when to employ an expert. Is the person picked young and healthy enough that they will be around at the client’s death? Does the person have a good relationship with the beneficiaries of the will or trust?
Choosing fiduciaries is important as your client grows older. Who can the client trust to take care of himself or herself, to handle his or her money, or to make the client’s healthcare decisions?
In Alabama Fiduciaries Part I: Choosing the Right Fiduciary (the first part of a two-part webinar series), the presenter discusses the different types of fiduciaries – personal representative, guardian, conservator, trustee, attorney-in-fact, and trust protector. He will also look at the standard of behavior required of the fiduciary.
- What is a fiduciary?
- Who should really be a fiduciary?
- Who shouldn't be a fiduciary?
- What is a personal representative? Administrator? Executor/Executrix?
- What is a guardian? Conservator?
- What is a trustee?
- What is an "attorney in fact" under a "power of attorney"?
- What is a "trust protector"?
- What is the standard of behavior for a fiduciary?
- What are the biggest risks in writing estate plans?
About Your Presenter
James B. Griffin
James B. Griffin, LLC
James B. Griffin founded James B. Griffin, LLC in Mountain Brook and serves clients in Alabama and Georgia who are pursuing the American dream of property ownership, business ownership, and investing in their future. The firm’s mission is the protection of private property rights, especially in real estate, the creation of wealth, and the preservation of assets through estate planning, especially for those heirs who are not capable of taking care of themselves. He is a Birmingham native who graduated from Gordon College in Massachusetts with a B.A. in Economics and History, from the University of Alabama with a M.A. in History, and from Vanderbilt University Law School. He began his practice at a large firm in Atlanta and then in a small firm for most of a decade in his wife's hometown of Covington, Georgia, before returning home to Alabama. His practice today concentrates on estate planning, trusts, estate administration, property, and real estate.