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Difference between revisions of "Four Key Duties of a Fiduciary"
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Four Key Duties of a Fiduciary (view source)
Revision as of 20:54, 19 March 2018
, 20:54, 19 March 2018→Don't pay yourself unless the power of attorney allows it
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If you do pay yourself, be sure to charge a reasonable fee based on the amount or rate set out in the power of attorney. Carefully document how much time you spend and what you do. | If you do pay yourself, be sure to charge a reasonable fee based on the amount or rate set out in the power of attorney. Carefully document how much time you spend and what you do. | ||
Even if you are not paid for your time, you are entitled to be paid back for any reasonable out-of-pocket expenses. For example, let’s say you use your own funds to buy a journal or chequebook to be used for Martina’s benefit. | |||
==Duty 2. Manage Martina's money and property carefully== | ==Duty 2. Manage Martina's money and property carefully== | ||