How much does it cost to hire a fiduciary?

The total cost to hire a fiduciary depends on the scope and complexity of the matter. You can find more information regarding my fee structure here.

What is a private fiduciary in California?

A private fiduciary, more formally known as a “licensed professional fiduciary” is a neutral third party licensed by the California Department of Consumer Affairs Professional Fiduciary Bureau to serve in a position of trust for someone to whom a duty is owed. California private fiduciaries most commonly serve as Trustee, Estate Administrator, or Conservator.

When serving as Trustee the fiduciary duty is owed to the Trust maker and the beneficiaries.

When serving as Estate Administrator the fiduciary duty is owed to the deceased and their heirs.

Why hire a fiduciary?

Serving as Trustee or Estate Administrator isn’t always convenient. You may live out of state or away from Kern County and be unable to physically gather and manage the assets. Perhaps your personal or professional commitments prevent you from giving the amount of time and attention your Trustee or Administrator duties deserve.

In either case, a fiduciary can act as a neutral third party to uphold your loved one’s wishes while they are alive and no longer able to manage their financial affairs or administer the estate after they pass away.

Another common need for a fiduciary is in the case of a blended family when the parents can’t decide from which side to choose a trustee without offending the other side. Hiring a fiduciary also makes sense when family members do not trust each other or are unable to communicate respectfully. A fiduciary can navigate such issues to make sure the assets are properly managed and accounted for so that each family member receives their rightful share of the estate or trust despite strained family dynamics.

Who needs a fiduciary?

Anyone appointed as Trustee or Estate Administrator who does not have the time or capability to properly manage and protect Trust or Estate assets or someone who needs a future Trustee or Estate Administrator and doesn’t have a trusted family member or friend.

What does a private fiduciary do?

Generally, a private fiduciary manages and protects estate or trust assets when serving as Trustee, Estate Administrator or Conservator. More information about the specific private fiduciary services offered at Kern Fiduciary Services, Inc. can be found here.

Who is a fiduciary of a trust?

The fiduciary of a trust is the Trustee.

Who is a fiduciary of an estate?

The fiduciary of an estate is the Estate Administrator.

How can you tell if someone is a fiduciary?

You can verify licensure by using the DCA License Search Tool on the California Department of Consumer Affairs website.