Most people have never heard the word fiduciary until they need one. Here is the short version: a professional fiduciary is a licensed, neutral person you can hire to take care of someone else's money, property or day-to-day needs, and who is legally required to put that person's interests first.
In California, professional fiduciaries are licensed and regulated by the Professional Fiduciaries Bureau. I'm Kristie Carter, NCG, a California Licensed Professional Fiduciary (PF 1619) based in San Luis Obispo.
When do families call a professional fiduciary?
- A parent has died and there is a trust. Someone has to secure the house and accounts, notify beneficiaries, pay final bills and taxes with the CPA, and distribute what is left. That job is trust administration, and I handle trust administration in San Luis Obispo County and Santa Barbara County.
- You were named successor trustee and don't know where to start. I offer successor trustee help: I can guide you step by step, or take over the job so you can be a son or daughter again.
- The family can't agree. When siblings disagree, an independent, neutral trustee keeps decisions fair and documented.
- A parent can no longer manage on their own. I can serve as trustee for aging parents, or the court can appoint a fiduciary through conservatorship services to protect an adult's finances or care.
- A child needs a guardian. Guardianship services protect minors when parents can't.
- There is a house in the trust or estate. The home is often the biggest asset. I oversee trust and estate property from care through sale, through the trust or court process.
What a professional fiduciary is not
I'm not an attorney and I don't give legal or tax advice. I work alongside your estate planning attorney and CPA, so each person does the job they are trained for.
Why hire one instead of doing it yourself?
Being a trustee or executor is real work: deadlines, notices, records and accountings. A licensed professional does it every day, answers to the beneficiaries or the court, and takes the pressure off family relationships. Fees are disclosed in writing before any work begins.
Where I work
San Luis Obispo County and Santa Barbara County, including San Luis Obispo, Paso Robles, Atascadero, Arroyo Grande, Nipomo, Los Osos, Morro Bay, Cayucos, Cambria, Santa Margarita, Pismo Beach and Santa Maria.
Questions about a trust, an estate or a conservatorship? Call 805.235.4499 or email kristie@kristiecarter.com.
This post is general information only, not legal, tax or financial advice.