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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 22:29, 19 March 2018
, 22:29, 19 March 2018→Give priority to Martina’s health and personal care needs
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===Give priority to Martina’s health and personal care needs=== | ===Give priority to Martina’s health and personal care needs=== | ||
To the extent reasonable, when managing Martina’s financial affairs, give priority to meeting her | To the extent reasonable, when managing Martina’s financial affairs, give priority to meeting her health care and personal care needs. Make sure she is safe and comfortable, and her needs are met. Put her well-being above saving money for others who may inherit her money and property. | ||
If Martina has appointed a representative under a representation agreement, work with them to help meet Martina's health care and personal care needs. Martina and her representative decide how to best meet these needs—not you. | |||
===Invest carefully=== | ===Invest carefully=== | ||
Under [http://canlii.ca/t/84f1 the law] in BC, when investing Martina’s property, you must “exercise the care, skill, diligence and judgment that a prudent investor would exercise”. This is a high standard. The exception to this rule is if the enduring power of attorney document says something different. | Under [http://canlii.ca/t/84f1 the law] in BC, when investing Martina’s property, you must “exercise the care, skill, diligence and judgment that a prudent investor would exercise”. This is a high standard. The exception to this rule is if the enduring power of attorney document says something different. | ||