Which of the following is NOT an exemption from certification?

The correct choice indicates that a foreign financial institution is not an exemption from certification. In the context of fiduciary practice, certification serves as a mechanism to ensure that fiduciaries are qualified and adhere to the legal standards required to manage and protect the interests of the estate or trust.

While individuals or entities related to the decedent, such as family members, may not need certification under certain circumstances, and those appointed for no compensation may also be exempt due to the nature of their role, a foreign financial institution operates under a different regulatory framework. Such institutions typically engage in financial activities that necessitate a level of oversight and certification to protect the interests of clients and beneficiaries, regardless of their geographical location.

In contrast, a devisee (someone who receives property under a will) may not require certification simply by virtue of their status as a beneficiary, as they are not acting in a fiduciary capacity. This distinction emphasizes the need for safeguards within the fiduciary landscape, particularly for entities like foreign financial institutions that manage significant assets.