Answers for Estate and Fiduciary Matters
Explore common questions about estate oversight, fiduciary services, and professional guidance.
A professional fiduciary is a licensed individual who is legally and ethically obligated to act in the best interests of another person. Professional fiduciaries provide objective oversight and management of financial, legal, and personal affairs when an individual is unable or prefers not to manage those responsibilities themselves. Depending on the appointment, a professional fiduciary may serve as a trustee, executor, conservator, guardian, or agent under a power of attorney. Their role is to provide impartial guidance, responsible decision-making, and diligent stewardship while adhering to all applicable legal and ethical standards.
It depends. While most of the clients we serve are located in the Bay Area, we are able to provide fiduciary services throughout California. In some cases, when a California resident has complex real estate holdings or other tangible assets located outside the Bay Area, working with a local California Licensed Professional Fiduciary (CLPF) may be beneficial. If that is the case, we are happy to provide trusted referrals.
Professional fiduciaries in California are licensed and regulated by the Professional Fiduciaries Bureau, a division of the California Department of Consumer Affairs. To obtain licensure, individuals must hold a bachelor's degree, complete approved pre-licensing education, pass a comprehensive examination, and successfully complete background and credit checks. Licensed fiduciaries must also satisfy annual continuing education requirements to maintain an active license.
Licensed professional fiduciaries are governed by the California Probate Code and the Professional Fiduciaries Bureau's regulations and Code of Ethics. Fiduciaries are required to complete continuing education annually, report assets under management, and provide detailed accountings to beneficiaries, clients, or the court when required. These safeguards help ensure transparency, accountability, and adherence to professional standards.
No. Carolyn does not serve as a co-trustee or joint agent under a Power of Attorney. Professional fiduciaries carry Errors & Omissions insurance, which generally does not provide coverage for joint decision-making arrangements. As a result, fiduciary appointments are accepted only when Carolyn can act independently within the scope of her designated authority.