Skilled Guidance For Fiduciary Services
Last updated on June 4, 2025
Estate planning involves critical decisions about who will handle your affairs and protect your interests when you cannot do so yourself. Selecting the right professional fiduciary becomes essential for maintaining the integrity of your estate plan.
Our team at Simpson Law, PA, led by attorney Suzanne Simpson, provides comprehensive fiduciary services throughout Montgomery County and Howard County, Maryland. Attorney Simpson serves as a professional fiduciary and can step in to act in your best interests or carry out your wishes as requested when family members or friends cannot fulfill these demanding roles.
Fiduciary Duty In Estate Planning
Fiduciary duty represents the highest standard of care under law, requiring complete loyalty, good faith and absolute honesty when managing another person’s affairs. In estate planning contexts, fiduciaries must always act in the best interests of beneficiaries rather than their own interests.
This legal obligation creates a relationship of trust where the fiduciary must avoid conflicts of interest, maintain confidentiality and exercise reasonable care in all decisions.
Types Of Fiduciaries And Their Responsibilities
Different fiduciary roles carry specific responsibilities that require specialized knowledge and careful attention to legal requirements. Common fiduciary positions in estate planning include the following essential roles:
- Trustee: Manages trust assets according to trust terms, makes distributions to beneficiaries and maintains detailed records of all transactions
- Executor: Administers estate assets after death, pays debts and taxes, and distributes property according to will provisions
- Power of Attorney: Makes financial or medical decisions for incapacitated individuals according to their previously expressed wishes and best interests
Each role requires different skills and time commitments, making professional fiduciary services valuable for complex situations.
Benefits Of Working With A Professional Fiduciary
Professional fiduciary services provide numerous advantages over appointing family members or friends to these demanding positions. Professional fiduciaries remain neutral in family disputes, understand complex legal requirements and maintain detailed records that satisfy court oversight.
Fiduciary services can help existing fiduciaries navigate their responsibilities by providing guidance, training and support throughout the administration process. This assistance helps family members fulfill their duties while minimizing stress and potential conflicts.
Contact Simpson Law, PA, For Professional Fiduciary Services
If you need someone to step in and act in your best interests or require guidance with fiduciary responsibilities in Montgomery County or Howard County, contact Simpson Law, PA, today. Call 301-658-7951 or reach out online to discuss your fiduciary representation needs.