2018 Arizona Revised Statutes
Title 14 - Trusts, Estates and Protective Proceedings
§ 14-1104 Prudent management of costs
14-1104. Prudent management of costs
In a proceeding brought pursuant to this title:
1. The fiduciary must prudently manage costs, preserve the assets of the ward or protected person for the benefit of the ward or protected person and protect against incurring any costs that exceed probable benefits to the ward, protected person, decedent's estate or trust, except as otherwise directed by a governing instrument or court order.
2. A guardian ad litem, fiduciary, fiduciary's attorney and attorney for the ward or protected person have a duty to:
(a) Act in the best interest of the ward or protected person.
(b) Avoid engaging in excessive or unproductive activities.
(c) Affirmatively assess the financial cost of pursuing any action compared to the reasonably expected benefit to the ward or protected person.
3. Market rates for goods and services are a proper, ongoing consideration for the fiduciary and the court during the initial court appointment of a fiduciary or attorney and relating to a request to substitute a court-appointed fiduciary or attorney.
