Choosing a Fiduciary: Lessons from Disney’s Encanto

If you’ve seen Disney’s Encanto, you know that the Madrigal family’s magical gifts come with great responsibility. Each member of the family plays a unique role in maintaining their home and community. But what happens when too much pressure is placed on one person, like Luisa, the physically strong sibling? Her song, Surface Pressure, reveals the weight she carries—both literally and emotionally.

This story offers a valuable lesson when choosing a fiduciary in your estate plan. Whether selecting a trustee, executor, or agent under a power of attorney, it’s essential to appoint someone who is capable, willing, and available to take on the role. The Natick trust lawyers at Kristine Romano Law can help you navigate this decision with confidence.

What Is a Fiduciary? 

A fiduciary is a person or institution legally obligated to act in someone else’s best interests. In estate planning, fiduciaries manage finances, distribute assets, and ensure that a person’s wishes are carried out. Common fiduciary roles include:

Trustee: Manages and distributes trust assets according to the terms of the trust.

Executor: Administers the estate and ensures the will is followed after death.

Agent Under Power of Attorney: Handles financial or healthcare decisions if the principal is incapacitated.

Choosing the Right Fiduciary

Selecting a fiduciary isn’t just about naming the most responsible family member. As seen in Encanto, placing too much responsibility on one person can lead to stress, resentment, and even family tension. Here are key qualities to look for in a fiduciary:

1. Integrity and Trustworthiness

A fiduciary must make decisions in your best interest, not their own. This means acting with honesty, avoiding conflicts of interest, and keeping detailed financial records.

2. Financial and Organizational Skills

Managing finances, paying bills, and distributing assets require attention to detail. If a family member isn’t comfortable handling these responsibilities, consider appointing a professional trustee or financial institution.

3. Emotional Resilience and Fairness

Family dynamics can be complicated. Just as Abuela Madrigal struggled with balancing family expectations, a fiduciary may face pressure from relatives who disagree with the estate plan. Choose someone who can handle difficult conversations and make decisions based on facts, not emotions.

Should You Appoint a Family Member or a Professional Fiduciary?

In Encanto, Mirabel is overlooked despite her dedication to her family. Similarly, choosing a fiduciary based on tradition—such as appointing the eldest child—may not always be the best choice. If no family member is well-suited to the role, consider a professional fiduciary. Natick trust lawyers can help you evaluate whether a corporate trustee or bank might be a better fit for your estate’s complexity.

Ensuring a Smooth Estate Administration in Natick

The best way to prevent conflict is through clear communication and thoughtful planning. Discuss your wishes with your chosen fiduciary and provide detailed instructions in your estate planning documents. At Kristine Romano Law, we guide families through every step, ensuring that fiduciaries understand their roles and that estate plans are structured to minimize stress and confusion.

Speak with a Natick Trust Lawyer for Guidance on Choosing a Fiduciary

Choosing a fiduciary is a significant decision that can impact your family’s future for generations. Just as the Madrigal family learned to appreciate each other’s unique strengths, your estate plan should reflect the right person for the right role. If you need guidance in selecting a fiduciary, the experienced Natick trust lawyers at Kristine Romano Law are here to help. Contact us today to start planning with confidence.

Key Takeaways:

• Understand Fiduciary Duties: Knowing what fiduciaries do helps you choose the right person to manage your finances.
• Trustees Play a Key Role: Trustees ensure that trust assets are handled properly and according to your wishes.
• Legal Safeguards Are in Place: Fiduciaries are legally required to act in your best interests and protect your assets.
• Ensure Your Family's Security: Working with an attorney helps you select trustworthy fiduciaries and create a solid estate plan.

References: Consumer Finance (Jun. 27, 2023) “What is a Fiduciary?” and Smart Asset (Jun. 12, 2024) “Differences of a Fiduciary vs. Trustee”