Fiduciary services available to protect your loved ones

On Behalf of | Apr 28, 2022 | Fiduciary |

Many people, including older adults and adults with disabilities, may require assistance when it comes to managing their personal affairs. A fiduciary can provide such assistance by acting on behalf of another person, with the person’s best interests in mind. There are several types of fiduciaries, including:

  • Conservator (Guardian of the Estate): Appointed by the court to control of the finances and assets of someone who is legally incapacitated or unable to manage their own affairs.
  • Guardian (Guardian of the Person): Appointed by the court to care for a legally incapacitated person who cannot care for themselves.
  • Executor/personal representative: Appointed by the court (may also be named in will) to maintain the estate of a deceased person throughout the probate process.
  • Trustee: Named in will or trust agreement to manage assets on behalf of someone else.
  • Agent: Named under Medical Power of Attorney to make medical decisions or under General (Durable) Power of Attorney to make financial decisions on behalf of a legally incapacitated person.

Fiduciaries can have many responsibilities depending on their role and the needs of the person they are representing. Some responsibilities may include:

  • Investing assets
  • Protecting eligibility for Medicaid and other needs-based benefits
  • Filing tax returns
  • Maintaining accurate records of all payments made
  • Acting in the best interest of incapacitated person and beneficiaries.

Our firm can provide you and your family with fiduciary services

For over 20 years, Bogutz & Gordon has provided fiduciary services to clients all over the state. Our attorneys, paralegals, care managers, and support staff have served as health care advocates on behalf of clients and acted as emergency support for people who do not have any friends and family to serve in that role. Additionally, our attorneys provide several legal services, including estate planning, tax return preparation, and gift tax planning.