We represent many persons who act in the trusted role of “fiduciary,” as successor trustee of a trust, executor of a will, administrator of an estate (when a person dies without a will) or other role. Fiduciaries often have a tough and thankless job. They must marshal assets, file tax returns and distribute property according to the will, trust and applicable laws. Fiduciaries who fail to work closely with a trusted advisor can make mistakes. Here’s a look at the most common ones:
‘Fiduciary rule’ voided by judge: What the decision means for you
The fiduciary rule, a regulation that required financial advisers to put their clients’ interests ahead of their own, is now dead. When celebrity chef and author Anthony Bourdain died, his will contained a directive leaving his frequent flyer miles to his estranged wife to “dispose of in accordance to what she believes to be his wishes.”