What you need to know:
A fiduciary is a person who assumes responsibility for the affairs of someone else.
Their authority to act is derived from appointment by the court or as outlined in various legal documents such as trust instruments.
In all instances, the fiduciary acts as the advocate for their client. All actions taken are performed for the protection of and in the best interests of the client.
The activities of private fiduciaries are monitored by the Professional Fiduciaries Bureau, a licensing agency connected to the California State Department of Consumer Affairs.
Hughes Fiduciary Services assists clients in many areas including:
The Fiduciary as Trustee has the responsibility of carrying out the terms of the trust as set forth in a trust document. In some instances, the document is a Special Needs Trust, designed to provide for the long term care of a beneficiary with disabilities.
The Fiduciary as Executor or Personal Representative is tasked with gathering, inventorying and safeguarding assets, verifies and pays obligations with the goal of distributing remaining assets to heirs and beneficiaries.
The Fiduciary as Power of Attorney for financial matters or for health care acts as the agent for the client to ensure that all matters are attended to pursuant to the wishes and best interest of the client.
The Fiduciary as Conservator is the individual appointed by the court to manage the financial and/or health concerns for the conservatee. Conservatorship is a legal tool to provide management of the personal affairs of someone deemed by the court to be incapacitated.
The Fiduciary as Daily Money Manager generally involves client assistance with bill paying, budgeting and tracking/verification of medical expenses.