When a loved one’s estate goes through probate, one of the most important roles in the process is that of the fiduciary. This person—often called the executor or personal representative—has the legal responsibility to manage the estate’s assets and affairs in the best interest of the heirs and beneficiaries.
If you are involved in a probate case in Marana, Arizona, it’s crucial to understand what fiduciary duties mean and how they affect the estate process.
What Does Fiduciary Duty Mean?
A fiduciary duty is a legal obligation of trust and loyalty. In probate, the fiduciary must act with honesty, fairness, and responsibility while handling the estate.
In Marana probate cases, a fiduciary may be:
- An executor named in the will
- A court-appointed personal representative
- A trustee managing trust assets
Core Fiduciary Duties in Arizona Probate
If you are appointed as a fiduciary in Marana, here are the main duties you must follow:
1. Duty of Loyalty
Always act in the best interests of the estate and its beneficiaries, never for personal gain.
2. Duty of Care
Manage assets responsibly—such as maintaining properties in Marana, keeping financial accounts secure, and making careful decisions.
3. Duty to Account
Maintain accurate records of all estate income, expenses, and distributions. Transparency is essential.
4. Duty to Distribute Assets
Ensure heirs and beneficiaries receive their rightful inheritance once all debts, expenses, and taxes have been paid.
Why This Matters for Marana Families
Probate can be a stressful and emotional time. Mismanagement of fiduciary responsibilities can result in delays, disputes, or even court intervention. By understanding fiduciary duties, Marana families can protect the estate and ensure the probate process runs as smoothly as possible.
Final Thoughts
If you are serving as a fiduciary or working with one in Marana, knowing the responsibilities of the role can prevent complications and protect your loved one’s legacy.
For help navigating probate and managing real estate tied to an estate, turn to a local professional who understands the Marana market.
Ryan Comstock, Realtor
📞 520-261-4669
🌐 www.ryancomstock.com