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Choice of Fiduciaries

An important part of estate plan creation is the choice of the person or persons that you wish to act on your behalf if you die or become incapacitated. Known as “fiduciaries,” they must follow your wishes with care and loyalty if you die or can no longer make financial decisions for yourself. Also choose the person or persons you wish to make medical decisions on your behalf.

McManus Estate Planning LLC suggests naming as a fiduciary a person you trust completely, one who has good business sense, sound financial judgment, general competence, and some knowledge of federal and state tax laws. You might consider choosing your attorney or a bank’s trust officer, and if you wish, a family member or close friend to act with the professional for the benefit of your estate. Be sure to ask the individual(s) you wish to name if she or he is willing to bear this responsibility.

Our office does not hold the original documents associated with estate plans; we typically keep scanned copies. You should always know the location of your documents; it also may be helpful to give copies to your fiduciaries.

Estate planning law is the specialty of McManus Estate Planning LLC, and the only area in which we practice. Contact our staff to begin setting up your estate planning.