What type of lists should a fiduciary maintain concerning the individual they represent?

A fiduciary has a critical role in managing the financial and personal affairs of the individual they represent, often referred to as the principal or ward. One key responsibility is to maintain comprehensive records that relate directly to the necessary and relevant aspects of the principal's care and management.

Maintaining a list of service providers and prescribed medications is vital because it directly impacts the health and well-being of the individual. This list enables the fiduciary to ensure that the principal receives the appropriate care and medication, coordinate healthcare services, and monitor any changes in their provider situation. It serves as an essential reference for decision-making regarding the individual's health needs and care continuity.

While other lists, such as those containing family members, financial advisors, or personal interests, might be useful in certain contexts, they do not hold the same level of immediacy and practical significance as the list of service providers and prescribed medications. This latter list specifically assists in safeguarding the principal's health and ensuring that their medical needs are prioritized, making it a fundamental component of fiduciary responsibility.