Friday, July 29, 2022

A Brief Look at Fiduciary Duty

 Kristin Hetzer is the principal of Royal Palms Capital, where she oversees and manages both individual and corporate pension plan investments. Her recently published book,,"Valle Egypt", Kristin Hetzer talks about the concept of fiduciary duty as it relates to financial elder abuse.

A fiduciary duty is an obligation imposed on another person by law, requiring them to act in the best interest of the person, who trusts and relies on them. The law specifies that for a person to act as a fiduciary, they must have agreed to act in trust and confidence on behalf of the dependent or principal. This duty involves avoiding situations that might result in a conflict of interest with the person on whose behalf they're acting.

Due to the agreement to take responsibility and act in the interest of another, fiduciary duty may apply to a guardian in a ward relationship or an attorney and client relationship. However, it may also extend to employer and employee relationships and family members who may be named as an estate trustee.. When a person breaches a fiduciary duty, they can be sued and be required to pay damages if found guilty. Although, the time and money involved in proving this in court is a consideration., The best policy is to understand the concept and work to avoid or prevent going through the ramifications of breach of fiduciary duty. The book, Valle Egypt, does a good job of explaining the problems which may occur when a fiduciary acts improperly.

Tuesday, January 11, 2022

Financial Elder Abuse Cases & Problems

A graduate of Hope College, Kristin Hetzer holds a bachelor of arts in biology and is the Principal of Royal Palms Capital LLC. Kristin Hetzer is also the author of Valle Egypt, a story of a family affected by financial elder abuse.

Financial elder abuse is a real problem and can happen to anyone as people start to decline with age and are easier to coerce and take advantage of. The elders that are the most at risk are those who are isolated or suffering from diseases such as Alzheimer's or dementia. Financial elder abuse occurs when a person steals something from an elder or coerces them into giving them something of value. This type of abuse can be done by anyone from family members, to friends, and even caregivers or lawyers.

There are many signs that can pinpoint financial elder abuse such as missing belongings, unusual money withdrawals, or changes in the will. This abuse specifically is harder to tackle and identify than typical elder abuse such as physical or emotional. Cases of financial elder abuse can be filed at adult protective services or financial institutions.