From Minnesota

Anyone thinking of using the fiduciary services of Professional Fiduciary, Inc. (PFI) should read the front page article on the Sunday February 16, 2009 STAR TRIBUNE detailing how over $600,000.00 was taken from the estate of an 80-year old widow. When the money was all gone – including $100,000.00 spent on attorneys – PFI resigned, leaving the widow dependent on income from a reverse mortgage on her homestead.

Also read the Minnesota Court of Appeals case IN RE CONSERVATORSHIP OF WALTER W. APPLE No. A05-2523 August 22, 2006 WL 2405857 (Minn. App.) where the estate of a WWII Vet was milked dry.

PFI does not even use proper software on its accountings. A “profit and loss” statement is issued for its fiduciary accounts.

Chester C. Graham

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