Do You Need Legal Representation as a Fiduciary?
As a fiduciary, your main duty is to always act in your clients' best interests, which can be quite a challenge, especially if you are not a lawyer or an accountant. This is why you might want to think about getting an attorney to guide you through your fiduciary responsibilities.
Why Consider Legal Help as a Fiduciary?
Getting legal representation as a fiduciary offers multiple advantages. A lawyer can break down your fiduciary duties and what you are responsible for. They can also give you advice on the best ways to fulfill these duties.
Having a good attorney can also help you avoid legal problems. They will go through your contracts and papers to make sure everything follows the rules. If any issues come up with your clients, they can help sort them out.
Are There Risks to Fiduciaries Not Having Legal Counsel?
Not having legal representation as a fiduciary comes with a few risks. You might not fully understand all your duties, which could lead to mistakes that hurt your clients.
Some legal problems might pop up that are unavoidable. If you are not familiar with the law, you might not spot problems until they become big issues.
Finding some peace of mind is important too. Knowing you do not have a qualified lawyer to back you up could lead to a lot of stress.
Is Getting Legal Help the Right Move?
Deciding whether to hire a lawyer as a fiduciary is really up to you. There is no one-size-fits-all answer. But if you are worried about your responsibilities or want to avoid legal problems, bringing in legal help might be the smart move.
When making your choice, think about things like:
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How big and complicated your business is
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The kind of fiduciary relationship you have with your clients
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Your comfort level regarding legal matters
If you are not sure if you need a lawyer, it is always a good idea to chat with one. They can give you advice based on your situation.
Contact a San Antonio Probate Litigation Lawyer
It is always best to be on the right side of the law. However, understanding exactly what the law entails when it comes to your rights as a fiduciary can often be challenging. That is why it is a good idea to discuss your options with a Bexar County probate litigation lawyer as soon as possible. Geoff Mayfield, Attorney at Law can help defend you should your decisions come under scrutiny. Call 210-535-0870 for a free consultation and find out what steps you should take to protect your own rights and interests while overseeing another’s affairs.