The Estate & Asset Protection Law Firm Owner, Shannon Pawley, Goes Deeper Into An Explanation Of Fiduciary Duty.
The Estate & Asset Protection Law Firm Owner, Shannon Pawley, touches on the various types of lesser known fiduciary relationships that exist in society.
DECATUR, GA, December 22, 2022: Shannon Pawley, Owner of The Estate & Asset Protection Law Firm, has posted a new article on the law firm’s website entitled “What Is Fiduciary Duty,” in which Ms. Pawley continues her explanation of fiduciary duty in many unexpected relationships.
Pawley notes, “People most often hear the term “fiduciary” in relation to investors and their financial advisors.” She continues, “I wrote specifically about financial fiduciary advisors in a recent article. If you missed it, the link is at the end of this article. This month,” she states, “I elaborate on fiduciary duty in different kinds of relationships. These include relationships between: Trustee-Beneficiary; Corporate Office-Shareholder; Attorney – Client; and Real Estate Agent – Client. In fact, the fiduciary relationship is also implied in the marital relationship as well as in the employee-employer relationship.”
As Pawley explains, “A fiduciary duty involves actions taken in the best interests of another person or entity. Fiduciary duties include duty of care, loyalty, good faith, confidentiality, prudence, and disclosure.” She adds, “For a financial advisor, this may mean recommending a product that results in reduced or no compensation because it’s the best option for the client.” She emphasizes, “No matter in what way a fiduciary is representing a client, the idea is that fiduciary duty entails always acting on behalf of the client/beneficiary’s best interests.”
According to Pawley, “When the area is complicated, as financial, legal, and real estate issues can be, it’s difficult to know if you are being guided in a way that benefits you, the client, above your representative. Certified Financial Planners (CFPs) have a Board which establishes Standards of Conduct about how CFP® professionals are expected to deliver their services in a fiduciary manner.”
Pawley turns her attention to her field, writing, “Attorney/client privilege is something we hear about frequently on TV shows and we understand it from the standpoint of privacy. In Estate Planning and Asset Protection, attorneys are bound by their fiduciary duty to responsibly manage the estate and safeguard its assets. lawyer must at all times act in the best interest of the client and must make full disclosure of any economic or other interest that the lawyer has that might conflict with the interest of the client.”
The entire article can be read at LINK HERE
About The Estate & Asset Protection Law Firm
The Estate & Asset Protection Law Firm was established to serve the legal needs of retiring citizens. The Firm focuses its entire practice on providing strategies to protect independence, privacy, assets and taxes from the government. Shannon Pawley has grown her law practice by providing excellent customer satisfaction with personalized wealth protection plans.
About Shannon M. Pawley, J.D., LL.M
As the owner of The Estate & Asset Protection Law Firm, Shannon M. Pawley and her entire team share a passion which focuses on being able to serve the legal needs of retiring individuals. In our firm, WE BELIEVE that people should not have to lose everything they’ve worked a lifetime to earn and that every person is an individual who deserves respect and the highest quality of life possible, regardless of age or ability. We also believe that privacy and protection are the keys to personal peace. Born and raised in the Tidewater area of Virginia to a tightknit family with strong military service roots, Shannon learned from an early age the value of hard work and the importance of social awareness to ensure you always leave a situation in a better place than how you entered it. In her junior year of high school, Shannon served as U.S. House of Representatives Page during the 101st United States Congressional Session in Washington, D.C. This experience exposed her to numerous new cultures and worldly issues. Walking away from her experience as a U.S. House of Representative Page, Shannon knew that she wanted to pursue legal studies and be able to assist others in obtaining the best results available in difficult situations.
Shannon earned her undergraduate degree at North Carolina Wesleyan College and pursued a law degree from Michigan State University College of Law. After obtaining her law degree and becoming a licensed attorney in Michigan, she continued her educational pursuit by acquiring a LL.M. (Master of Law) in Taxation from Wayne State University. After moving to Georgia in 2018, Shannon obtained her Georgia law license and has enjoyed being able to pursue her desire of ensuring persons are able to age with dignity, grace and independence.