Ways to Use a Fiduciary

There are many ways to use a fiduciary. They are:
1. If someone does not have a trusted person to administer their will, trust or conservatorship then a Professional Fiduciary can be brought in.
2. If families are not agreeing on the administration or if there is fighting than a Professional Fiduciary can be brought in.
3. If the family does not want to or does not have the time to administer the trust, will or conservatorship then a Professional Fiduciary can help.

Professional Fiduciaries can assist families in many ways. If you have questions, feel free to contact me at:
dbogdanovich_profid@yahoo.com

What is a Professional Fiduciary.

   Individuals and families that have an estate plan (trust and/or will) in place typically name a family member or trusted friend to administer the trust or will upon death or incapacitation. Sometimes there is nobody to execute  the plan or the person making the estate plan wants a person outside of their immediate circle for privacy or trust issues.. That is where a professional fiduciary comes in.  Fiduciaries are individuals who have specific education in the administration of wills and trusts. Also fiduciaries who practice in California are licensed through the state and are required to participate in continuing education to keep their license current.
   Another area where fiduciaries can be used is in the area of Special Needs Trusts. Special Needs Trusts are trusts set up for individuals who receive Social Security monthly payments. The trusts are set up to enable the person receiving the benefits to keep receiving the benefits and have some of their expenses covered by the trust . Special Need Trust have a specific set of rules to follow and most fiduciaries are well versed in the rules.
   There are many reasons to use a fiduciary. For additional information contact the Professional Fiduciary Association of California at PH: 866.886.7322 or Email: pfvac@amgroup.com