What is the fiduciary's responsibility when managing a deceased client's estate?

The fiduciary's primary responsibility when managing a deceased client's estate is to ensure that all debts and taxes are paid. This obligation is fundamental to the role of a fiduciary, who acts in the best interests of the estate and its beneficiaries. By paying off debts and taxes, the fiduciary ensures that the estate is settled according to the law and that the beneficiaries receive their rightful inheritances without the estate becoming encumbered by lingering financial obligations.

Managing an estate involves a careful assessment of its assets and liabilities. The fiduciary must account for all debts and claims against the estate before any distributions can be made to beneficiaries. This process not only fulfills legal obligations but also maintains transparency and trust with those who stand to inherit from the estate.

This responsibility emphasizes the fiduciary's duty of care and loyalty toward the deceased’s wishes and the beneficiaries’ rights, ensuring that the estate is handled in a fair and responsible manner.