What is a fiduciary's obligation regarding fees and billing?

A fiduciary has a fundamental obligation to act in the best interests of their clients or beneficiaries, which includes adhering to standards regarding fees and billing. The requirement that all fees must be approved by the court reflects this responsibility. It ensures transparency and accountability in the fiduciary's financial dealings, protecting the interests of those they serve.

Judicial oversight is crucial, as it prevents conflicts of interest and potential abuse in managing funds. When fees are subject to court approval, it allows for scrutiny, ensuring that they are reasonable and justifiable based on the work performed and the complexity of the case. This process fosters trust and maintains the integrity of the fiduciary relationship.

In contrast, the other options do not align with the principles governing fiduciary duties. The notion that payments must be made without regard to laws undermines the legality of fiduciary actions. The idea that reports or invoices do not need to be submitted to courts negates the importance of transparency. Lastly, the suggestion that only some fees need to be disclosed would create an inconsistency in accountability and could lead to misunderstandings about the fiduciary's financial responsibilities.