Can a Personal Representative and Trustee also be the financial advisor for a beneficiary of the Trust?
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Can a Personal Representative and Trustee also be the financial advisor for a beneficiary of the Trust?
Asked on September 14, 2012 under Estate Planning, Maine
Answers:
M.T.G., Member, New York Bar / FreeAdvice Contributing Attorney
Answered 12 years ago | Contributor
Are you asking if it would in any way be a conflict? There are potential conflicts in any situation where those that hold a fiduciary position take on more than one "job" so to speak. But as long as there is full disclosure as t the duties they hold in their fiduciary capacity and no conflict of interest it could potentially be fine. I would err against it though. Good luck.
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