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?
Albuquerque, New Mexico