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 121 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?

After a vasectomy, it takes about 12 ejaculations to clear out sperm that were already beyond the blocked area.

Did you know?

It is difficult to obtain enough calcium without consuming milk or other dairy foods.

Did you know?

Many people have small pouches in their colons that bulge outward through weak spots. Each pouch is called a diverticulum. About 10% of Americans older than age 40 years have diverticulosis, which, when the pouches become infected or inflamed, is called diverticulitis. The main cause of diverticular disease is a low-fiber diet.

Did you know?

The newest statin drug, rosuvastatin, has been called a superstatin because it appears to reduce LDL cholesterol to a greater degree than the other approved statin drugs.

Did you know?

Vaccines cause herd immunity. If the majority of people in a community have been vaccinated against a disease, an unvaccinated person is less likely to get the disease since others are less likely to become sick from it and spread the disease.

For a complete list of videos, visit our video library