There are many different situations in which a Coloradan could end up having fiduciary duties in relation to a loved one or a loved one’s estate. This is because there are several different fiduciary roles individuals in the state are sometimes named for by a loved one or assigned to in relation to a loved one. Examples of such roles include:
- Personal representative.
- Power of attorney holder.
- Trustee.
- Conservator.
- Guardian.
When a person holds one of these roles, it is vital for them to keep their actions consistent with the fiduciary duties they have.
Now, the matters that individuals holding the above-mentioned fiduciary roles are dealing with are often rather sensitive ones. So, it is possible for such a fiduciary, even when they have taken great care to stay within their fiduciary duties, to face disagreement from another family member in relation to an action they took in their role.
Serving a fiduciary role can be daunting and stressful in the best of circumstances. So, a fiduciary might get quite worried when a disagreement with a family member gets thrown into the mix. They might have major concerns about what effects the dispute will have with their relationship with the family member who has voiced disagreement and on the dynamics within the family generally. They also might fear that the dispute could escalate into the family member alleging a fiduciary duty breach or leveling other accusations which could raise the possibility of legal action.
In the face of such a delicate situation, a fiduciary may find having the help of a lawyer experienced in fiduciary representation to be reassuring. Such attorneys can assist fiduciaries here in Colorado with understanding what implications a given disagreement could have and give them advice on what actions they could take to try to resolve the disagreement in a way that steers clear of major potential problems.