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FIDUCIARY ACCOUNTING

Fiduciary Accounting for Vulnerable Adults | Los Angeles, California, Attorneys

When an elderly adult becomes unable to make his or her own financial decisions, the courts can use a power of attorney or conservatorship to determine who should make those decisions in his or her place. With that authority comes the responsibility to undertake thorough fiduciary accounting of all the incapacitated individual's assets.

At the Law Offices of Mitchell A. Karasov, we work with accountants to help make sure that clients fulfill all of their obligations regarding fiduciary accounting. If you would like to schedule an initial consultation with a lawyer at the firm, call us at 818.508.7192 or contact us online.

Thorough Accounting Today May Prevent Problems Tomorrow

If you fail to undertake thorough fiduciary accounting, you may encounter serious problems down the road. The worst that may happen is that you could wind up personally liable for any of the estate's debts or you may even face criminal charges. The firm's lawyers provide fiduciary accounting services for a variety of individuals, including:

  • Conservators: you need to file a comprehensive care plan with the court within 60 days of becoming a conservator. Act quickly to meet this requirement.
  • Individuals with power of attorney: poor accounting can lead to suspicion of malfeasance or financial abuse.
  • Trustees, Executors and administrators of estates: failing to properly administer wills and trusts can open the door to unnecessary estate administration disputes among the beneficiaries. In addition, you could become personally liable for any of the decedent's unfulfilled debts and obligations.

If you would like to discuss fiduciary accounting with an attorney at Law Offices of Mitchell A. Karasov, call us today at 818.508.7192 or contact us online.

 


 

NAEThe Law Offices of Mitchell A. Karasov is located in Palm Springs and serves clients throughout Southern California, and in surrounding cities. This includes Los Angeles, Valley Village, Studio City, Glendale, Burbank, Beverly Hills, Santa Monica, Ventura, North Hollywood, Sherman Oaks, Woodland Hills, Northridge, Simi Valley, Van Nuys, Encino, Reseda, San Fernando, North Hills, Tarzana, Calabasas, Hollywood, West Hollywood, Brentwood, Bel Air, Westwood, Century City, Topanga and Santa Clarita as well as other communities throughout Southern California, the San Fernando Valley, Los Angeles County, Riverside County and Ventura County.

2010 by Law Offices of Mitchell A. Karasov. All rights reserved. PRIVACY POLICY

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