An Associate's Guide (Part 3): Best Fiduciary Practices

In a continuation of the associates’ guide series on trusts and estates, Lawline welcomes back Jill Miller joined with new faculty member Anne Bederka for an extensive overview of the best practices for fiduciaries.  This program is designed for attorneys and legal professionals seeking an understanding of the roles of executors, administrators and trustees in the fulfillment of their fiduciary duties.  The course will begin with an explanation of the various roles and obligations of each fiduciary class and will will continue with an in-depth explanation of their fundamental fiduciary responsibilities. Topics include marshaling of assets, raising cash, investment responsibilities, including diversification, proper maintenance of books and records, delegation among fiduciaries, and working with beneficiaries. The course will also address guidelines for representing multiple fiduciaries and the attorney-drafter in the role of named fiduciary, as well as the consequences for failing to adhere to the various legal mandates.  The course will end with a discussion of ethical issues in trusts and estates practice.

Learning objectives:

I.    Grasp the roles and responsibilities of an administrator, an executor and a trustee

II.   Identify and discuss the fiduciary duties of an executor and trustee

III.  Explore the consequences for failing to adhere to fiduciary principles

IV.  Comprehend ethical considerations that arise when representing fiduciaries

Program Director: Sigalle Barness