• Report: #250302

Complaint Review: Southwest Fiduciary

  • Submitted: Fri, May 25, 2007
  • Updated: Thu, July 12, 2007

  • Reported By:Albuquerque New Mexico
Southwest Fiduciary
7147 N. 59th Ave Glendale, Arizona U.S.A.

Southwest Fiduciary Violated Arizona Law dealing with clients ripoff Glendale Arizona

*Author of original report: News Flash! Southwest Fiduciary forbidden by Court to charge estates for defending themselves against complaints!

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The Arizona Supreme Court Fiduciary Certification Program has determined that Southwest Fiduciary Inc. violated the law on multiple occasions while administering estates and guardianships. Despite these violations, no meaningful sanctions have been imposed and Southwest Fiduciary continues to rip off clients.

Many complaints of Fiduciary Misconduct have been filed with the Supreme Court - and some are documented at www.swfiduciary.com

In the case of my mother's estate, Southwest Fiduciary failed to provide information to the heirs, failed to provide complete information as to the value of the estate, failed to inventory the estate, refused to provide estate auction invoices, refused to pursue missing assets, charged excessive fees to the estate, and filed incompetent accounting reports to Probate Court.

The accounting reports were muddled, showed unrelated expenses charged to the estate, failed to account for estate checks, and were so incomplete, the reports could not be reconciled. Yet, the report was approved by Maricopa County Probate Court. The Court admitted that the "content" of the accounting reports are not audited. Only the "format" is reviewed and approved! This is a license to steal.

The Fiduciary Certification Program investigated my complaints, and determined that violations of Arizona law did take place - yet no meaningful sanctions were imposed - only a "Letter of Concern" was placed in their file. This isn't even a "slap on the hand"! The "Letter of Concern" didn't even tell them not to do it again!

In addition to unrelated expenses and excessive fees, to add insult to injury, Southwest Fiduciary charged the estate thousands of dollars for responding to the complaint to the Supreme Court! In other words, even though they were found to have violated the law, they made a profit from the complaint!

Does anyone else see something wrong here?

Bob
Albuquerque, New Mexico
U.S.A.

This report was posted on Ripoff Report on 05/25/2007 07:19 AM and is a permanent record located here: http://www.ripoffreport.com/r/Southwest-Fiduciary/Glendale-Arizona-85301/Southwest-Fiduciary-Violated-Arizona-Law-dealing-with-clients-ripoff-Glendale-Arizona-250302. The posting time indicated is Arizona local time. Arizona does not observe daylight savings so the post time may be Mountain or Pacific depending on the time of year.

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#1 Author of original report

News Flash! Southwest Fiduciary forbidden by Court to charge estates for defending themselves against complaints!

AUTHOR: Bob - (U.S.A.)

NEWS FLASH!

In a Decision by the Court of Appeals, State of Arizona, Division One, signed by Lawrence F. Winthrop, Presiding Judge (1 CA-CV 06-0152)
dated March 29, 2007, the Court confirmed that, in a proceeding before the Fiduciary Certification Program, SFI defended the proceeding before the Program as a certified private fiduciary member, not as a personal representative. SFIs expenses and fees incurred solely in the proceedings before the Fiduciary Certification Program were not chargeable to the estate. Further, a subsequent MOTION FOR RECONSIDERATION protesting this decision, was specifically denied by Presiding Judge Lawrence F. Winthrop and Judges Susan A. Ehrlich and Sheldon H. Weisberg.

Further, the Court stated, ...SFI has not cited, and we have not found, any authority for a private fiduciary to charge to an estate attorneys fees incurred in defending a complaint to the Program, even though the conduct at issue in the Program proceeding concerned the fiduciarys handling of the estate.

In the Conclusion of the Decision, the Court reiterated, SFIs expenses and fees incurred solely in the proceedings before the Fidiciary Certification Program are not chargable to the estate.

In other words, It is illegal for Southwest Fiduciary, Inc. to charge an estate to defend themselves against a complaint filed with the Arizona Fiduciary Certification Program!
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