Fiduciary Services

Q: When is it appropriate to use a law firm as my Personal Representative (Executor)?

A: We will not normally volunteer. If you ask, we may be willing to serve. There are several circumstances in which it may be appropriate for you to use a law firm such as ours as your Personal Representative, or Trustee, or Agent under POA.

We are local: Because of the mobile nature of our society, as well as the fact that our area is attractive not only to been-here's but to come-here's, we find many clients do not have family in the local area. You do not have to be a local to serve as Personal Representative, but it helps. It is not easy to sell a Virginia home, or to close a Virginia bank account, when you are in Oregon.

We have the time: Let's face it; our families have a life. They have children who play soccer, spouses with medical problems or high pressure jobs. Whether using a Will-based plan or a Trust-based plan, it takes time to collect the assets, pay the debts, and distribute what is left to those entitled to the distribution.

We are impartial: Unfortunately, many families have stories about how the family fractured (or broke altogether) when a family member died and money was involved. In some situations it is better to let an independent professional help.

We will not normally be paid more than your family would have been: Law firms are expensive, right? You will be given a choice to either allow us to bill on an hourly basis, or by a per cent of the estate. The per cent is exactly the same as a family member serving as Executor would be entitled to. And it is your choice, hourly or per cent.

Q: What about using a bank trust company?

A: We encourage you to review all options; family, friends, other professionals, banks, and us. Knowledge is power.