Phoenix, AZ estates & probate attorney Mark Bregman talks about the duties of a fiduciary such as a trustee or personal representative. He explains that a fiduciary may serve in various roles, including trustee, personal representative under a will, or agent under a power of attorney. Each of these roles falls under the broader legal framework of fiduciary responsibility, which imposes statutory duties of loyalty, competence, and fairness. Evaluating these duties as a whole provides the foundation for determining who is best suited to act as a fiduciary.

One of the most significant challenges, he observes, is that fiduciaries are often chosen from among the beneficiaries of an estate or trust. This dual role naturally creates conflicts of interest, and many clients initially select individuals they assume will be appropriate, only to discover otherwise. He emphasizes the importance of taking time to analyze what makes a qualified fiduciary, carefully weighing both the individual’s ability to fulfill the role and the practical considerations, including costs.

Ultimately, he advises that if a chosen fiduciary meets the core standards of loyalty, competence, and fairness, the client can have confidence that their affairs will be managed effectively and with integrity.