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Author Question: Bob has two brothers and he trusts both of them completely. Jeff lives in the same state and has a ... (Read 113 times)

lidoalex

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on: Aug 3, 2018
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?


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234sdffa

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Reply #1 on: Aug 3, 2018
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.


lidoalex

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Reply #2 on: Aug 3, 2018
TY


234sdffa

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Reply #3 on: Aug 3, 2018
You're welcome


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