Frequently Asked Questions About Being A Fiduciary

What If I Say ‘No’ Right Now?

Please say no if you’re not interested. Alternative arrangements can be made and there should be no hard feelings. It is quite a responsibility if you say yes, and although it is not required, you should have the integrity to live up to your agreement to serve if you do say yes.

Will I Have To Work With Other People?

Maybe. The principal can name different people for different roles. You can be the surrogate but have to work with the agent under durable power of attorney to get funding for your medical decisions. You could also be named as “co-“, meaning either of you can act, or both of you must act jointly, depending on the wording of the document.

Should I Get Paid?

The person handing you this document beforehand should bring up compensation. I always recommend being paid in these roles and proper documentation of the labor performed – this creates a professional environment for proper services given and it can reduce bitterness between family members.

I Live Out Of State, Can I Take On These Roles?

Mostly yes. Some roles require you to be related by blood to do the job if you live outside Florida. Most roles will require at least one visit to where the principal lives, but once you have the required date, you can delegate or automate a lot of the day to day tasks while leaving yourself with the final say.

Have You Listed All My Liabilities?

No, I assumed you are being chosen because you are trusted not to steal or be neglectful, and you are not a sociopath. If you show these characteristics to other people involved in the principal’s life, then these people will likely seek a guardianship court resolution and/or sue you.

I Have Questions To Ask You About All This.

Run your questions through the person asking you to perform these roles. If you ask the law office directly, then there is confidentially issues and also we will charge the principal for our time and we do not want to be seen as running up a legal fees bill. Questions are best handled in a conference call between you, our client, and us.

For more information on FAQs About Being A Fiduciary In Florida, an initial consultation is your next best step. Get the information and legal answers you’re seeking by calling (904) 398-6100 today.

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