There are situations where enlisting an independent or professional fiduciary brings value to the table. Situations when an independent or professional fiduciary should be considered include those when the beneficiary is disabled and a special needs trust must be administered, when there are family disputes concerning who should manage assets and when there are asset protection concerns.
Mr. McGuffey is willing to serve as Personal Representative for estates, as Conservator, and as Trustee of trusts on a case by case basis. If you are not a client, then you would retain Mr. McGuffey directly as Trustee. If you are an existing client, then we require a signed conflict of interest notice.
You are under no obligation to appoint Mr. McGuffey as fiduciary and Mr. McGuffey is under no obligation to accept your appointment until we agree on the terms of service. Before making a decision, you should consider other potential choices of executor, trustee or agent, their relative abilities, competence, safety and integrity, and their fee structure. Mr. McGuffey will discuss the nature of the representation and service that will result if you name him as executor, trustee or agent (i.e., what the exact role of the lawyer as fiduciary will be, what the lawyer's fee structure will be as a lawyer/fiduciary). Mr. McGuffey will discuss the potential for the attorney/fiduciary hiring himself or herself or his or her firm to represent the estate or trust, and the fee arrangement anticipated. Mr. McGuffey will advise you concerning the potential advantages of seeking independent legal advice. These terms are negotiable; unless we agree on terms of service, neither of us has an obligation to proceed.
Mr. McGuffey is willing to work with most financial planners, banks and accountants if you have existing relationships. If you do not have an existing relationship with a financial planner, bank or accountant, then we will discuss with you which service provider is most suited to your situation.
If you retain Mr. McGuffey as fiduciary, then our fee structure is the statutory fee structure for fiduciaries, plus expenses; in cases where there is no statutory fee, or if we agree to different terms, then it is Mr. McGuffey's hourly rate. If outside counsel is retained, then there would be no additional legal fee. If McGuffey serves as legal counsel for the trust, conservatorship or estate, then his office will charge an hourly fee for legal representation in addition to the fee for serving as personal representative, conservator or trustee.
If you have questions about our fiduciary services, please contact Mr. McGuffey.