What could be a consequence of poorly defined roles in a co-fiduciary relationship?

In a co-fiduciary relationship, clearly defined roles are critical to maintaining effective collaboration and ensuring that fiduciary duties are upheld. When roles are poorly defined, it often leads to misunderstandings about each party's responsibilities. This lack of clarity can significantly hinder communication, as co-fiduciaries may not know who is accountable for specific tasks or decisions.

As a result, the potential for conflict increases, as overlapping responsibilities or gaps in accountability can create frustration and disputes among the parties involved. This can ultimately lead to inefficiencies, missed opportunities for fiduciary growth, and a failure to meet the best interests of the beneficiaries. Clear delineation of roles is essential to foster trust, streamline decision-making processes, and effectively manage the fiduciary relationship.