What is a recommended practice for fiduciaries when managing financial matters of an estate or trust?

Consulting with an investment advisor every quarter is a recommended practice for fiduciaries managing the financial matters of an estate or trust. This frequent engagement ensures that the fiduciary remains up to date with the latest market conditions, investment opportunities, and potential risks that could affect the trust's assets. Regular consultations foster a proactive approach to financial management, allowing for timely adjustments to investment strategies based on performance and changes in the financial landscape.

This approach is particularly important as it helps fiduciaries to maintain a schedule of reviews that aligns with the dynamic nature of investment markets. By consulting an advisor quarterly, fiduciaries can more effectively oversee the trust’s financial health and make informed decisions that align with the trust’s goals and beneficiaries’ needs.