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THE ROLE OF A FIDUCIARY

Professional fiduciaries are entrusted to provide financial and healthcare options to ensure a client’s wishes are followed during a change in life circumstances. Agent for healthcare power of attorney options are available during the lifetime of the client, especially in circumstances of diminished capacity. Financial services may be appropriate during the lifetime of the client should a client need assistance, or post-death, to handle the administration and distribution of the estate.

Overview

DIVERSE AND BROAD EXPERIENCE AND TRAINING

Fiduciaries use their diverse and broad experience and training to provide and oversee many of the day-to-day activities necessary to manage both financial and health/personal care. Examples of this include bill payment and oversight of investments, real property, medical care, and appropriate living environment. All of this is handled in a transparent manner through financial documents and accounting statements. When the need arises, fiduciaries may seek counsel from qualified attorneys, CPAs, financial advisors, property managers, and other professionals. We will continue to use the experts you have chosen in their respective fields, assuming no conflicts.

Professional Fiduciaries are licensed and regulated by the State of California and must follow a strict code of ethics. They must take courses required by the licensing bureau, pass a lengthy exam, attend continuing education, have a clean background check and be bondable.

Additionally, fiduciaries are strictly bound by the California Probate Code and ultimately answer to the Court, even if the matter is not court supervised. Professional Fiduciaries are responsible for the oversight of the actions of the experts they hire engage to assist with managing a client's needs such as investment companies or realtors. The Professional Fiduciary may be surcharged by the court for client losses resulting from improper management.

WORKING WITH YOUR TRUSTED ADVISORS

All of us at Hitchman Fiduciaries consistently strive to use your on legacy experts during the administration of a trust. This might include an attorney, tax preparer, financial advisor, or property manager. When medical and personal care are involved, the treatment remains in place, assuming that is the client's desire.