Over the past several years we have frequently been called-upon to serve in a fiduciary capacity for clients.
As you may know, a fiduciary is a legal or ethical relationship of trust between two or more parties; one party acts in a fiduciary capacity to the other one, who vests their confidence, good faith, reliance and trust to the fiduciary, whose aid, advice or protection is sought in some matter.
In such a relation, good conscience requires the fiduciary to act at all times for the sole benefit and interest of the one who trusts. A fiduciary duty is the highest standard of care at either equity or law.
Several of our earlier posts have referenced the challenges many families face when caring for aging parents or settling their estates. Should your family encounter stress or discomfort due to these or similar circumstances, it can be comforting to know that a trusted advisor such as your estate planning or elder law attorney can also serve in a fiduciary capacity.
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