Trustees: How Not to Get Sued
Lawsuits against trustees are on the rise. That is the conclusion to be drawn from the following statistic, as reported in the on-line article entitled How Not to Get Sued:
[L]awsuits and arbitration cases concerning breach of fiduciary duties are increasing at a compound annual rate of 22 percent, according to an analysis of NASD figures by the Center for Fiduciary Studies, of Sewickley, Pa.
The linked-to article goes on to address key strategies for avoiding trustee lawsuits, which are encapsulated in the following 4 bullet points:
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Know the client's risk tolerance
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Serve the client's needs
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Keep careful records
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Be particularly careful to document anything unusual
The Society of Fiduciary Advisors has also published its BEST PRACTICES FOR INDIVIDUAL INVESTORS, which provides excellent risk-management guidance for trustee/investment advisors.
RE: Notary Publics in the US
...have No Legal Authority to "AuthenticateAny Documents" they only can verify the persons' signature, that is scribed in their presence.
Most people, believe that a "True Copy" stamp of a Notary, makes the document "Real" but that is an illusion.
This is posted, as we are involved in a Probate Case in Florida, where the trustees attempted to mislead the Heirs of an Estate, with a "True Copy" stamp on a "Fake" phopto copy of a document.
Sincerely,
Peter Radonicich
Toronto, Canada