Providing Experienced And Insightful Counsel For Fiduciary
Being placed in the position of responsibility for an estate or trust is a large responsibility, as you are entrusted with caring for the assets contained within for the beneficiaries. In some cases, these beneficiaries may be minors or people of reduced capacity, and to safeguard beneficiaries from having their assets misused the law imposes obligations on those responsible for them. Persons or corporations who are legally responsible for the preservation, administration, and/or management of another’s funds are recognized under the law as fiduciaries. They typically include:
- Administrators or executors of a decedent’s estates in probate
- Trustees under a trust, conservators acting on behalf of an incapacitated person
- Other persons or corporations that administer and manage properties and funds on behalf of their principals
A fiduciary is often appointed by the principal (i.e. grantor of a trust or testator of his last will), or in some instances appointed by the court.
Trustees And Executors Have A Fiduciary Duty To Their Beneficiaries
A trustee of a trust or a personal representative (executors, administrators) of an estate who has legal authority over the property of the decedent (the person who has passed away), protected persons, principal, settlor, or ward. In the context of elder law and persons with disabilities, a fiduciary is someone who is authorized under the law to act on behalf of another person under a legal incapacity in a matter requiring trust, loyalty and transparency. In the context of a decedent’s estate, a fiduciary is someone appointed by the court to administer the assets of the decedent. Their status as a fiduciary is important as the law imposes certain duties and heightened responsibilities owed to creditors and beneficiaries of the estate.
Chong Park has more than 22 years of litigation experience as a trial lawyer litigating trust, estate and other fiduciary disputes. Mr. Park represents trustees, executors, administrators/personal representatives, and beneficiaries of trusts and estates to achieve the objectives intended by the grantor or decedent. Mr. Park also brings to the table many years of experience in other areas of the law (contracts, property law, criminal law) that is often applicable to estate and trust litigation.
Come To Mr. Park For Legal Advice
No matter what your situation may be, whether you are a trustee or executor in need of assistance or you are a beneficiary who is concerned that their estate or trust assets are being mismanaged, Mr. Park can help you. You can call him at 571-247-3219 or you can send him a message online with a brief description of your situation.
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