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The Toll of Serving as Fiduciary

May 2, 2022 by Elizabeth Neyens

Estate Planning attorneys balance competing interests when helping clients decide who they should name as personal representative and trustee. Some of the factors that a client needs to consider are the nominee’s responsibility, financial savvy, and temperament. These factors influence the fiduciary’s ability to pay debts, expenses, claims, negotiate on behalf of the estate, and to conclude the administration of the estate or trust. While many individuals consider acting in this capacity a great honor, the role comes with serious implications, including personal liability for failure to pay taxes. Read on to learn more.

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Elizabeth Neyens
Elizabeth Neyens
Elizabeth Neyens currently practices in Woodbury, Minnesota, primarily in the areas of estate planning and, probate, which are two areas that involve family transitions, challenging circumstances, thoughtful decisions, and careful planning.Elizabeth aims to be not only a legal advocate, but also a calming influence.
Elizabeth Neyens
Latest posts by Elizabeth Neyens (see all)
  • Business Succession Planning May Be Easier than You Think - May 2, 2022
  • The Toll of Serving as Fiduciary - May 2, 2022
  • Let’s Talk about Trusts…and Taxation - April 4, 2022

Filed Under: Estate Planning, legal education

About Elizabeth Neyens

Elizabeth Neyens currently practices in Woodbury, Minnesota, primarily in the areas of estate planning and, probate, which are two areas that involve family transitions, challenging circumstances, thoughtful decisions, and careful planning. Elizabeth aims to be not only a legal advocate, but also a calming influence.

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Neyens Law PLLC,
Oakdale, MN (Main Office)
600 Inwood Ave N, Suite 235,
Oakdale, MN 55128
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