Probate Lawyer for Yolo County, CA

Probate Lawyer in Yolo County, CA    Probate Lawyer for Yolo County, CA

A probate lawyer for Yolo County, CA can assist you through the process of probate when a loved one passes away. A probate lawyer is also known as an estate attorney and is responsible for assisting a personal representative of an estate through the process of probate. Probate matters are governed by local laws of where the decedent resided upon their death, so it’s very important to consult experienced local lawyers in probate matters. Yee Law Group lawyers are involved in every step of the probate process to ensure that your loved one’s personal assets and property are distributed according to their wishes. 

5 Things to Ask When Choosing a Fiduciary

Choosing a Fiduciary

A fiduciary is a person who has a legal or ethical relationship with you. Generally speaking, a fiduciary is concerned with your assets in some fashion, such as an estate planning attorney or financial advisor. A fiduciary acts on your behalf and should put your interests above his or her own. A true fiduciary is legally and ethically bound to act in your best interest. Based on over 40 years of combined experience at Yee Law Group, here are five questions you should ask a fiduciary before signing a contract.

What Is Your Background?

Look for a fiduciary with advanced degrees in law, business, or finance. Ideally, your fiduciary should have years of experience beyond insurance or as a broker. Look for a person who has worked as an investment analyst or a trader with a major financial business, or a probate lawyer in Yolo County, California.

Who Pays Your Fees?

A fiduciary generally receives the majority of fees from the clients instead of getting commissions from insurance products or securities. You should always understand your fiduciary’s compensation model because it will tell you a lot about their transparency and how they operate. For a fiduciary to act in your best interest, you should be the one paying for their time.

Who Actually Manages My Assets?

Are you hiring an investment advisor who is a middleman between you and another analyst or is the fiduciary actually managing your assets? True fiduciaries keep your funds and conduct transactions on your behalf as they see fit. Your fiduciary should be the one managing your assets, not a third party.

Are You Legally Bound to Act in My Best Interest?

If the person you’re talking to answers anything but “yes,” you are not dealing with a fiduciary. Get this in writing because it is a legal principle that protects you. Don’t let the advisor talk around this question. A true fiduciary always acts in your best interest. You are in charge of your money, but a fiduciary would try to talk you out of an investment that he or she believes would be bad for your financial future. An advisor without fiduciary duty would be legally bound to carry out your orders, regardless of how wise or foolish they may feel. 

What Is Your Track Record?

Not only should you get client references, you should also get a performance record and other forms that can tell you how your fiduciary is managing other people’s assets. You can also check for complaints with the SEC or FINRA’s Broker Check.

Choosing the wrong person as a fiduciary can make a big difference in your future. If you would like to learn more about the role of a fiduciary and whether you need one, consider contacting a Yolo County, CA probate lawyer from Yee Law Group.