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Fiduciary Services Agreement

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FIDUCIARY SERVICES AGREEMENT

This Fiduciary Services Agreement (the Agreement) is entered into as of by and between Fiduciary Name: , whose principal business address is (the Fiduciary), and Client Name: , whose address is (the Client). Each of the Fiduciary and the Client may be referred to herein as a Party and collectively as the Parties.

RECITALS

WHEREAS, the Client desires to engage the Fiduciary to act in a fiduciary capacity for the limited purposes described in this Agreement and to perform certain asset, trust, account, or administrative functions on behalf of the Client; and

WHEREAS, the Fiduciary represents that it is duly qualified, experienced, and willing to accept such appointment and to perform the duties, obligations, and powers set forth herein in accordance with all applicable legal standards and the terms of this Agreement; and

WHEREAS, the Parties wish to set forth their respective rights and obligations with respect to the services to be provided by the Fiduciary.

NOW, THEREFORE, in consideration of the mutual covenants and promises contained herein, the Parties agree as follows:

1. APPOINTMENT AND ACCEPTANCE

1.1 Appointment. The Client hereby appoints the Fiduciary to act as a fiduciary with respect to the matters described in Section 2 and the Fiduciary accepts such appointment upon the terms and conditions of this Agreement. The Fiduciary shall have only those powers and authorities expressly granted herein or otherwise reasonably necessary to carry out the performance of the services.

1.2 Acceptance and Reliance. The Fiduciary represents and warrants that it will act in good faith, with loyalty, reasonable care, skill and diligence, and in a manner consistent with applicable law and the terms of this Agreement. The Fiduciary may rely on written instructions delivered by the Client or any person authorized in writing by the Client.

2. SCOPE OF FIDUCIARY SERVICES

2.1 Services. The Fiduciary shall perform the following services (the Services):

2.2 Additional Authorities. Subject to the limitations set forth herein, the Fiduciary shall have the authority to take actions reasonably necessary to administer the Services, including executing documents on behalf of the Client only to the extent expressly authorized in writing.

3. TERM AND TERMINATION

3.1 Term. This Agreement shall commence on the Effective Date and shall continue until terminated in accordance with this Section 3.

3.2 Termination for Convenience. Either Party may terminate this Agreement upon providing the other Party with days' prior written notice.

3.3 Termination for Cause. A Party may terminate this Agreement for cause upon written notice if the other Party materially breaches this Agreement and such breach is not cured within days after receipt of written notice specifying the breach.

4. COMPENSATION AND EXPENSES

4.1 Reimbursement. The Client shall promptly reimburse the Fiduciary for all reasonable and documented out-of-pocket expenses incurred in connection with the performance of the Services, subject to prior approval for expenses in excess of unless otherwise agreed in writing.

5. STANDARDS OF PERFORMANCE; CONFLICTS OF INTEREST

5.1 Duty of Care. The Fiduciary shall perform the Services with the level of care, skill, prudence and diligence ordinarily exercised by a fiduciary performing similar services under like circumstances. The Fiduciary shall act in the best interests of the Client and shall disclose any actual or potential conflicts of interest promptly in writing.

5.2 No Self-Dealing. The Fiduciary shall not engage in self-dealing or transactions that would constitute a breach of fiduciary duty unless fully disclosed in writing and consented to by the Client in advance.

6. CONFIDENTIALITY

6.1 Confidential Information. The Fiduciary shall keep strictly confidential all non-public information received from the Client in connection with the Services and shall not disclose such information except as required by law or as authorized by the Client. This obligation shall survive termination of this Agreement.

7. RECORDS, REPORTING AND AUDITS

7.1 Records. The Fiduciary shall maintain complete and accurate books and records relating to the Services and shall retain such records in accordance with applicable law.

7.2 Audit Rights. The Client shall have the right, upon reasonable prior notice during normal business hours, to inspect and audit the Fiduciary's records to the extent they relate to the Services, provided that such inspection shall not unreasonably interfere with the Fiduciary's operations.

8. INDEMNIFICATION; LIMITATION OF LIABILITY

8.1 Indemnification by Client. The Client shall indemnify, defend and hold harmless the Fiduciary and its officers, directors, agents and employees from and against any and all claims, liabilities, losses, damages and expenses (including reasonable attorneys' fees) arising out of or in connection with the Services, except to the extent resulting from the Fiduciary's gross negligence, willful misconduct or bad faith.

8.2 Limitation of Liability. Except for liability resulting from fraud, willful misconduct or gross negligence, neither Party shall be liable to the other for incidental, consequential, punitive or exemplary damages.

9. INSURANCE

The Fiduciary shall maintain in force at its expense professional liability insurance in an amount not less than and shall provide certificates of insurance to the Client upon reasonable request.

10. NOTICES

All notices, requests, demands and other communications required or permitted under this Agreement shall be in writing and shall be deemed given when delivered personally, by nationally recognized overnight courier, or three (3) business days after being deposited in the U.S. mail, postage prepaid, to the addresses set forth below or to such other address as a Party may designate by notice to the other Party.

11. AMENDMENTS; WAIVER

11.1 Amendments. This Agreement may be amended or modified only by a written instrument executed by both Parties.

11.2 Waiver. No waiver of any provision of this Agreement shall be effective unless set forth in a written instrument signed by the waiving Party. No failure or delay by either Party in exercising any right shall operate as a waiver.

12. GOVERNING LAW

This Agreement shall be governed by and construed in accordance with the laws of the State of without regard to principles of conflicts of law.

13. ENTIRE AGREEMENT; SEVERABILITY

13.1 Entire Agreement. This Agreement, together with any exhibits or schedules hereto, constitutes the entire agreement between the Parties with respect to the subject matter hereof and supersedes all prior and contemporaneous agreements, understandings, negotiations and discussions, whether oral or written.

13.2 Severability. If any provision of this Agreement is held to be invalid, illegal or unenforceable in any respect, the validity, legality and enforceability of the remaining provisions shall not be affected or impaired.

14. COUNTERPARTS

This Agreement may be executed in counterparts, each of which shall be deemed an original, and all of which together shall constitute one and the same instrument. Signatures transmitted by facsimile or electronic image shall be binding as originals.

MISCELLANEOUS

14.1 Assignment. Neither Party may assign its rights or delegate its obligations under this Agreement without the prior written consent of the other Party, except that the Fiduciary may assign its rights to an affiliate or in connection with a merger or sale of substantially all of its assets.

14.2 Relationship of Parties. The Fiduciary is an independent contractor and nothing in this Agreement shall be construed to create a partnership, joint venture or employer-employee relationship between the Parties.

ENTITY TYPES

Indicate the legal form of each Party (check all that apply).

SIGNATURES

Fiduciary (Printed Name):

By:

Date:

Client (Printed Name):

By:

Date:

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What a Fiduciary Services Agreement Is and When It Applies

A Fiduciary Services Agreement is a written contract that defines the relationship, duties, powers, compensation, and reporting obligations between a fiduciary (trustee, executor, professional fiduciary) and the principal or estate. It sets the scope of authority, decision-making rules, recordkeeping expectations, liability limits, and termination conditions to avoid misunderstandings and support compliance with applicable state law and federal obligations.

Why a Formal Agreement Matters for Fiduciary Relationships

Using a Fiduciary Services Agreement clarifies responsibilities, reduces disputes, documents consent to electronic execution where permitted, and creates an audit trail that supports regulatory, tax, and probate review. Clear terms protect beneficiaries and fiduciaries by defining scope, compensation, notice procedures, and how to handle conflicts of interest.

Why a Formal Agreement Matters for Fiduciary Relationships

Who Typically Prepares and Signs This Agreement

Typical parties include professional fiduciaries, trustees, estate administrators, and the individuals or entities that appoint them.

  • Professional fiduciaries and trust companies who manage assets, maintain accounts, and deliver periodic reports to beneficiaries.
  • Individual executors or family members handling estate administration who want documented duties and compensation terms.
  • Financial institutions and advisors that act as co-fiduciaries, custodians, or administrators under a written engagement.

The agreement serves both small personal estates and institutional engagements; adapt language for the relationship, jurisdiction, and whether electronic signatures or notarization are required.

Common Signer Roles and Typical Use Cases

Professional Fiduciary

A paid fiduciary (licensed or bonded where required) who accepts duties under a written engagement covering asset management, reporting cadence, fee structure, and indemnification. The agreement protects the fiduciary by defining limited liability, insurance requirements, and termination mechanics.

Family Executor

An individual appointed as executor or personal representative who uses the agreement to memorialize responsibilities, access to accounts, recordkeeping expectations, and reimbursement of expenses while providing transparency for beneficiaries and the probate court.

Core Clauses Every Professional Fiduciary Services Agreement Should Include

A well-drafted fiduciary engagement groups essential terms into clear sections so duties, limits, and remedies are evident to all parties and to courts or regulators reviewing the file.

Scope of Services

Describe specific duties such as asset management, bill payment, tax filings, distributions, and beneficiary communications so the fiduciary’s authority and excluded tasks are unambiguous and enforceable.

Fiduciary Duties

State the standard of care, investment duties, duty to avoid conflicts, and procedures for disclosing conflicts of interest to preserve beneficiary protections and regulatory compliance.

Compensation and Expenses

Specify fee rates (hourly, flat, or percentage), billing intervals, reimbursable expenses, and whether fees require court approval for estates or trusts to prevent later disputes.

Term and Termination

Define the agreement’s effective date, renewal or termination triggers, notice periods, and handover obligations for a smooth transition and continuity of asset management.

Records and Reporting

Detail required accountings, frequency of beneficiary reports, permissible record formats, and retention policies to meet tax, probate, and regulatory obligations.

Liability and Indemnification

Include indemnity language, limitations of liability consistent with state law, bonding or insurance requirements, and procedures for dispute resolution or court involvement.

Step-by-Step: Preparing and Executing the Agreement

Follow a short, consistent process from drafting to execution to preserve enforceability and maintain a clear audit trail for beneficiaries and regulators.

  • 01
    Draft: Assemble parties, define services, and include statutory language required by the governing state.
  • 02
    Review: Have counsel or a qualified reviewer check compensation, indemnities, and conflict provisions.
  • 03
    Authenticate: Decide whether signatures require notarization, witnesses, or remote online notarization per jurisdiction.
  • 04
    Distribute: Provide executed copies to all parties, custodians, and advisors; retain an audited master copy with timestamps.

Digital Workflow Settings for Online Completion

Configure the electronic workflow to match required authentication, field logic, and distribution rules before sending to signers.

Authentication Method Choose email link, SMS code, or knowledge-based authentication depending on required signer assurance level.
Required Fields Mark name, role, date, and signature fields as mandatory to prevent incomplete executions.
Conditional Logic Use conditional fields to show additional clauses when certain options are selected, reducing signer confusion.
Templates Save a vetted template for recurring engagements to ensure consistency and faster turnaround.
Notifications Enable email confirmations and a final audit certificate for the executed record.

Typical Electronic Execution Flow for This Agreement

Electronic signing follows a predictable sequence that produces a reproducible record acceptable under federal and state e-signature laws.

  • Upload: Uploader places signature, date, and data fields on the agreement.
  • Add Signers: Assign roles and email addresses in signing order or as parallel signers.
  • Authenticate: Signers verify identity per chosen method before signing.
  • Complete: Platform captures timestamp, IP, and audit trail and delivers final PDF to parties.

Technical and Integration Considerations for eSigning

Ensure the chosen eSignature platform supports the authentication, audit, and export formats required by your legal team.

  • File Formats: PDF and DOCX support required.
  • Integrations: Salesforce, NetSuite, Microsoft 365, Google Workspace often used.
  • Notarization: RON support or printable notarization workflows considered.

Verify platform-level features such as audit trails, encryption, role-based access, and integrations with document repositories to maintain the evidentiary record and streamline administration.

Security, Encryption, and Compliance for Electronic Execution

In-Transit Encryption: TLS 1.2/1.3
Data At Rest: AES-256
Certifications: SOC 2 Type II; ISO 27001
Regulatory Support: ESIGN and UETA
Healthcare: HIPAA (BAA required)
Accessibility: WCAG 2.0 Level AA

Key Dates and Typical Deadlines in a Fiduciary Engagement

Plan timelines that govern effective duties, reporting, and optional statutory notifications to beneficiaries or courts.

Effective Date Entry:

Use MM/DD/YYYY; controls when duties commence.

Initial Accounting:

Deliver first account within 30–90 days per engagement or state probate rules.

Regular Reports:

Quarterly or annual reporting cadence agreed in contract.

Fee Notices:

Provide 30 days’ notice for fee changes if required by state law.

Amendment Notice:

Require written consent and allow 10–30 days for responses.

Execution Milestones from Draft to Final Record

Track these sequential milestones to ensure timely execution and a defensible record.

01

Draft Completion

Finalize terms, attachments, and exhibits before circulation.

02

Internal Review

Legal and compliance review to confirm statutory language and tax impacts.

03

Execution and Notarization

Signatures obtained, notarization or witnesses applied if required.

04

Distribution and Archival

Provide executed copies to parties and retain master audit file.

eSignature Pricing and Feature Snapshot for Fiduciary Agreement Workflows

Compare starting prices and core features across common providers; signNow appears first. Feature availability and plan details vary by vendor and tier.

signNow DocuSign Adobe Sign PandaDoc HelloSign
Starting Price $8/user/mo $15/user/mo $14/user/mo $19/user/mo $15/user/mo
Free Trial 7-day free trial Varies Varies Varies Varies
Bulk Send Yes Yes Yes Yes No
Audit Trail Yes Yes Yes Yes Yes
HIPAA Compliant Yes Yes Yes No No

Common Mistakes to Avoid When Preparing the Agreement

  • Using vague scope language that allows differing interpretations and may lead to beneficiary disputes or court intervention.
  • Failing to specify exact fee mechanics or expense reimbursement rules, which can trigger contested fee petitions in probate.
  • Not verifying state witness or notarization requirements before executing, resulting in documents rejected for recording or probate.
  • Neglecting to capture a complete audit trail and retention policy when signing electronically, weakening evidentiary value.

Key Legal Risks and Potential Consequences

Breach of Duty: Civil liability
Invalid Authority: Transactions may be void
Tax Exposure: Penalties or audits
Recordkeeping Failures: Regulatory sanctions
Notarization Errors: Rejection by courts
Intentional Misconduct: Higher damages and potential criminal exposure

Real-World Examples of Using Fiduciary Services Agreements

These examples show how organizations and individuals use the agreement to standardize duties and speed execution while preserving compliance.

Optica Ventures LLC

Optica Ventures used a standardized Fiduciary Services Agreement to define trustee responsibilities and reporting expectations for multiple portfolio entities.

  • Efficiency and clarity improved.
  • Brian Fitzgibbons, COO, said: "The interface is simple and easy-to-use for our team; more importantly, it is just as easy for our customers." The firm now retains consistent accountings and faster beneficiary communications after adoption.

Martin Properties

Martin Properties deployed a digital fiduciary engagement to manage property-related trust duties and vendor payments.

  • Reduced turnaround time.
  • Tim Martin, Founder, reported: "I can process and execute all of these documents online with 100% compliance and built-in security." Using an audited electronic workflow simplified vendor onboarding and monthly reconciliations.

Common Questions About Enforceability, Notarization, and Electronic Signing

Answers to frequent practical and legal questions about executing and relying on Fiduciary Services Agreements electronically.


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