What You Need to Know About Professional Fiduciaries
by Blaine F. Aikin
SERVICES
Trust Administration
When creating your trust, it is important to consider who you will entrust to fulfill your wishes when you are no longer able to make your own financial decisions. Electing a California Licensed Professional Fiduciary to serve as the trustee or successor trustee of your trust ensures that the terms of your trust will be followed, and your assets will be protected. Additionally, it may help to prevent familial conflict and administration errors that so often arise when a family member administers a trust. We have experience with all aspects of trust administration including; marshaling of assets, selling real property, preparing and filing tax returns, avoiding unnecessary tax bills, keeping detailed records, maintaining transparency and communication with beneficiaries, preparing a detailed accounting, and disbursing money to beneficiaries as instructed by your trust. Our expertise limits the additional cost and time necessary to fulfill the terms of the trust.
Probate & Estate Administration
Oftentimes, the court will appoint us to administer an estate. We have experience will all aspects of court-supervised estate administration including; marshaling of assets, paying outstanding debts, selling real property, preparing and filing tax returns, avoiding unnecessary tax bills, keeping detailed records, preparing court accountings, and disbursing money to beneficiaries.
Special Needs Trust Administration
Administration of a Special Needs Trust requires knowledge of the specific requirements related to the administration as well as empathy and compassion for the beneficiary. We begin by performing a thorough assessment of the financial and personal needs of the beneficiary and then use this information develop the appropriate plan of care. Our management of a Special Needs Trust not only addresses the financial needs of the beneficiary, but the personal and emotional needs as well.
Conservatorships
When an individual is no longer able to manage their affairs safely or appropriately, the court may appoint a Conservator for them. We are able to serve as advocates and protectors for Conservatee’s, while protecting their autonomy.
Fiduciary Accounting Preparation
A fiduciary accounting provides a detailed report of all of the transactions associated with the trust or estate assets, reconciled to the exact penny. It allows the beneficiaries and/or the court to have a clear understanding of how the trust assets have been managed during the accounting period. We are proficient in the preparation of fiduciary accountings.