So, Aunt Jane just asked you to be the trustee of her trust. You were flattered and, of course, accepted. But what did you get yourself into? Too many consumers readily accept fiduciary appointments with little thought of the time commitment, headaches and liability they may face. Other fiduciary roles include being named executor to an estate or agent under a power of attorney. Serving as a fiduciary can be a noble act and be of great help to family members, friends, or loved ones. But improperly handled, it can be a difficult, stressful, and costly endeavor. Carefully evaluate before accepting any such appointment what is involved. Get professional help before, during, and at the end of serving as a fiduciary to be sure that you handle your responsibilities properly, and protect the beneficiaries as well as your own interests.
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