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.

All of us at Hitchman Fiduciaries consistently strive to use your own 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.

Naming Hitchman Fiduciaries as Successor Trustee

• Naming Hitchman Fiduciaries

Hourly, Fixed Rate, and Probate Estate Fee Schedules

• General Trust Administration Fee Schedule
• Hourly Fee Schedule
• Probate Estate Statutory Fee Schedule
• Trust Settlement Fee Schedule
• Inherited Special Needs Trust Fee Schedule

What is a Professional Fiduciary?

The role of professional fiduciary is to make certain your financial and healthcare needs are met in a way that upholds your dignity and gives you peace of mind during your lifetime, and to ensure your wishes are upheld after death. Hitchman Fiduciaries’ licensed fiduciaries draw on many years of expertise, resources, and knowledge, as we manage a range of services including oversight of investments, including but not limited to real property and financial portfolios, bill payments, medical care, and housing and care choices if needed, among others. After death, professional fiduciaries handle your estate according to the plan you have described in your estate planning documents.

In California, professional fiduciaries are licensed and regulated, by the CA Department of Consumer Affairs fand they must adhere to a strict code of ethics. This involves completing required courses, passing a lengthy exam, undergoing continuing education, passing a background check, and being bondable.

The trustee work of professional fiduciaries is also subject to the California Probate Code and can be accountable to the Court, even in cases where the matter is not court supervised. Professional fiduciaries may and should engage individuals with specific expertise, e.g., certified public accountants or attorneys, as they are responsible for the overall administration of an estate and will need specific expertise with certainty.

The Benefits of Hiring a Professional Fiduciary Near You

Anyone can be appointed as your fiduciary, and many family members hold positions as successor trustee, power of attorney for finances, or power of attorney for healthcare. You may wish to consider a licensed profession fiduciary to perform these duties. Reasons for a professional fiduciary include not wanting to burden a friend or family member, no one is suitable or available to carry-out your wishes, complexity of an estate, or dysfunction within a family. Whomever you select as your fiduciary, we advise you choose carefully.

While you may not “know” the private professional fiduciary as intimately as a family member or friend, they must go through rigorous evaluations to hold this position. Professional fiduciaries often help generate greater family harmony, as well as a smoother administration process. You will be giving someone in this capacity power over your assets and finances, and even beloved relatives and friends can be ineffective at dealing with another person’s money and decision-making. There are many benefits to hiring a professional fiduciary, considering they have the knowledge, experience, and resources to help manage an estate, financial affairs, and a special needs trust.

Our licensed, experienced, and compassionate fiduciaries at Hitchman Fiduciaries provide the following benefits and services:
1. Peace of mind
Working with our experienced professional fiduciaries can offer you peace of mind. You can rest assured knowing that your estate is in good hands, as we help reduce unnecessary stress for families.
2. Familiarity with financial and legal proceedings
An important and primary reason to hire a professional fiduciary is that they are more likely to be familiar with complex estate planning and trust administration requirements. This can help reduce financial mismanagement, and legal complications that can often occur when hiring friends and family to take on this major responsibility.
3. Strict code of ethics
Fiduciaries are always legally bound to act according to the terms of the power of attorney, and trust documents and always keeping in mind the beneficiaries’ best interests.
4. Impartial third-party
When you hire a professional fiduciary, you are entrusting your assets to an impartial third-party. Some families prefer to hire fiduciary trust services because they feel unable to rely on friends or families with their assets. Others may think that choosing a one loved one over a nonfamily member will create its own type of conflict. Having an impartial party step in can save you and your entire family from unnecessary tension, frustration, and expense along the journey.

Call our team today to schedule a FREE 30-minute consultation at 949-200-9712 or email us at LeeAnn@hitchmanfiduciaries.com. We look forward to helping you navigate a difficult season in your family’s life, and to giving you greater clarity to make the most informed decisions.