I have had a law practice focused on trusts, estates and probate since 1994. I have been involved with some thousands of wills, trusts, and probates during that time. I am not yet aware of a professional, third party, fiduciary stealing, making errors or generally causing trouble in the administration of a trust or estate. The same can not be said for using family as executors and trustees.
The combination of death and money can create monsters! It must be human nature because I have seen it happen to “the best guy” and to people “that get along great.” I have seen good people and bad people steal, make major errors and more generally cause trouble.
As an estate planning attorney my job is to help plan so your family dos not have problems after your death. The longer I do
Last week I had a professional fiduciary named as Administrator in one of my probate cases here at the Sacramento county probate Court. Professional fiduciaries are a great choice to serve as administrator when there is fighting, or potential fighting, between family members. They are licensed by the state and can be bonded. In fact, there is a whole list of them at www.pfac-pro.orgwhich serves all of California.
In this case the siblings get along ok but nobody could agree who should serve as administrator of their dad’s estate. Rather than have to face the issues of who trusted (or didn’t trust) who we opted to go with the professional. I think this is going to work out for everybody.
The cost is not great as the professional fiduciary get