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Difference between revisions of "Four Key Duties of a Fiduciary"
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Four Key Duties of a Fiduciary (view source)
Revision as of 22:58, 19 March 2018
, 22:58, 19 March 2018→Practice good record-keeping habits
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Keep a detailed list of everything that you receive or spend for Martina. Records should include amounts of cheques written or deposited, dates, reasons, names of people or companies involved, and other important information. | Keep a detailed list of everything that you receive or spend for Martina. Records should include amounts of cheques written or deposited, dates, reasons, names of people or companies involved, and other important information. | ||
Keep receipts and notes, even for small expenses. For example, write “$50, groceries, ABC Grocery Store, December 2, 2017” in your records soon after you spend the money. Get into the habit of always asking the store for a receipt | Keep receipts and notes, even for small expenses. For example, write “$50, groceries, ABC Grocery Store, December 2, 2017” in your records soon after you spend the money. Get into the habit of always asking the store for a receipt. | ||
Avoid paying in cash. Try not to pay Martina’s expenses with cash. Also, try not to use her ATM card to withdraw cash or write cheques to “Cash”. If you need to use cash, be sure to keep receipts or notes. | Avoid paying in cash. Try not to pay Martina’s expenses with cash. Also, try not to use her ATM card to withdraw cash or write cheques to “Cash”. If you need to use cash, be sure to keep receipts or notes. | ||
Insist the bank provide you with monthly statements and cancelled cheques, to help with your record keeping. | |||
===Keep records of any payments to yourself=== | ===Keep records of any payments to yourself=== | ||
