This topic contains a solution. Click here to go to the answer

Author Question: Bob has two brothers and he trusts both of them completely. Jeff lives in the same state and has a ... (Read 54 times)

lidoalex

  • Hero Member
  • *****
  • Posts: 538
Bob has two brothers and he trusts both of them completely. Jeff lives in the same state and has a family and a very busy job. Ryan lives about three hours away by car but has a more relaxed schedule and is currently single. If you were Bob, who would you appoint as his fiduciary? Fully explain your reasoning.
 
  What will be an ideal response?

Question 2

Perform additional legal research about what it means to be a fiduciary. Write a short essay in which you define the term fiduciary and fully discuss the powers and duties associated with being a fiduciary. Be sure to cite your sources.
 
  What will be an ideal response?



Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

234sdffa

  • Sr. Member
  • ****
  • Posts: 341
Answer to Question 1

Since Bob trusts both brothers, it may make more sense to appoint Ryan first because he has more time and fewer responsibilities. On the other hand, Jeff lives close by.

Answer to Question 2

Fiduciaries are held to a high moral and legal standard and must always act in the best interest of those whom they are appointed to serve. Fiduciary duties include the duties of loyalty, disclosure, accounting, obedience, and more. Fiduciaries are entrusted with the assets and property of others and must be organized, intelligent, honest, and loyal. Fiduciaries must be capable of engaging in business transactions such as making contracts and selling assets.





 

Did you know?

The top 10 most important tips that will help you grow old gracefully include (1) quit smoking, (2) keep your weight down, (3) take supplements, (4) skip a meal each day or fast 1 day per week, (5) get a pet, (6) get medical help for chronic pain, (7) walk regularly, (8) reduce arguments, (9) put live plants in your living space, and (10) do some weight training.

Did you know?

A seasonal flu vaccine is the best way to reduce the chances you will get seasonal influenza and spread it to others.

Did you know?

The Centers for Disease Control and Prevention has released reports detailing the deaths of infants (younger than 1 year of age) who died after being given cold and cough medications. This underscores the importance of educating parents that children younger than 2 years of age should never be given over-the-counter cold and cough medications without consulting their physicians.

Did you know?

Pubic lice (crabs) are usually spread through sexual contact. You cannot catch them by using a public toilet.

Did you know?

Medication errors are more common among seriously ill patients than with those with minor conditions.

For a complete list of videos, visit our video library