VandenBrink & Associates, a Professional Fiduciary Company
What is a Fiduciary?
A fiduciary is someone who takes on the responsibilities or duties associated with a particular position of trust. An individual holding themselves out as a professional fiduciary must be licensed in the State of California.
What does a Fiduciary do?
A professional fiduciary can serve in a variety of capacities, these include:
*As Trustee, a fiduciary carries out the terms of a testamentary, special needs or living trust.
*As Conservator/Guardian, a fiduciary handles an individual's estate and/or care of the person.
*As Personal Representative, a fiduciary administers a decedent's estate.
*As a neutral, a fiduciary acts as a third party when a family controversy exists.
*As an Agent Under Power of Attorney for Finances or Health Care, a fiduciary carries out decisions pursuant to
the client's written instructions.
*As Social Security Administration representative payee, a fiduciary receives income and pays
expenses on behalf of an individual.
*As a Consultant, a fiduciary advises others acting in a fiduciary capacity for their own family member and
that need assistance on certain aspects of their duties and responsibilities.
What services does a professional fiduciary offer?
A professional fiduciary can serve as a bridge between family members. They can objectively look at a situation to help determine what is best for you or your loved ones.
Fiduciaries are trained and experienced to ensure the health and well being of their clients. They make financial, health related, and quality of life decisions to protect the wishes and best interests of the individuals they serve.
Fiduciaries serve as a personal, trustworthy advocate for the elderly, vulnerable and individuals in need. They draw on their experience and seek available public benefits, programs and other resources to improve the lives of their clients and/or work to supplement their client's personal resources.
Our clients include individuals with memory loss/dementia, widowed individuals, elderly individuals living in isolated conditions, individuals with mental illness or cognitive impairments, or those facing financially and/or physically abusive situations.
Who needs a Professional Fiduciary?
Many seniors with family choose to appoint a Professional Fiduciary to avoid burdening family members. Even the most capable adult child is often times fully committed to work and home responsibilities and may not live conveniently nearby. Parent's of individuals with special needs often appoint/consult a licensed professional fiduciary to help them navigate complicated Medi-Cal and Social Security rules. Under certain circumstances, family members would not be a good choice for fiduciary work due to the lack of appropriate skills or the potential for conflict with siblings or other relatives.
How much do Fiduciary services cost?
A licensed professional fiduciary can be court appointed or privately hired. If a client's matter is court supervised, the Probate Court approves what they deem reasonable fees. In a non-court supervised case, a professional fiduciary would provide their own fee schedule or abide by California's statutory fees.
What type of oversight is there for Professional Fiduciaries?
Professional/Private Fiduciaries are governed by state statute and must report to California's Department of Consumer Affairs on an annual basis. As part of their fiduciary duty, a professional fiduciary will provide their client and/or their beneficiaries with an annual accounting. A fiduciary accounting shall contain a summary of its purpose and content and would contain sufficient information to put the client, their beneficiaries, or any other interested parties on notice regarding all significant transactions affecting the estate during the accounting period.
What is a Fiduciary?
A fiduciary is someone who takes on the responsibilities or duties associated with a particular position of trust. An individual holding themselves out as a professional fiduciary must be licensed in the State of California.
What does a Fiduciary do?
A professional fiduciary can serve in a variety of capacities, these include:
*As Trustee, a fiduciary carries out the terms of a testamentary, special needs or living trust.
*As Conservator/Guardian, a fiduciary handles an individual's estate and/or care of the person.
*As Personal Representative, a fiduciary administers a decedent's estate.
*As a neutral, a fiduciary acts as a third party when a family controversy exists.
*As an Agent Under Power of Attorney for Finances or Health Care, a fiduciary carries out decisions pursuant to
the client's written instructions.
*As Social Security Administration representative payee, a fiduciary receives income and pays
expenses on behalf of an individual.
*As a Consultant, a fiduciary advises others acting in a fiduciary capacity for their own family member and
that need assistance on certain aspects of their duties and responsibilities.
What services does a professional fiduciary offer?
A professional fiduciary can serve as a bridge between family members. They can objectively look at a situation to help determine what is best for you or your loved ones.
Fiduciaries are trained and experienced to ensure the health and well being of their clients. They make financial, health related, and quality of life decisions to protect the wishes and best interests of the individuals they serve.
Fiduciaries serve as a personal, trustworthy advocate for the elderly, vulnerable and individuals in need. They draw on their experience and seek available public benefits, programs and other resources to improve the lives of their clients and/or work to supplement their client's personal resources.
Our clients include individuals with memory loss/dementia, widowed individuals, elderly individuals living in isolated conditions, individuals with mental illness or cognitive impairments, or those facing financially and/or physically abusive situations.
Who needs a Professional Fiduciary?
Many seniors with family choose to appoint a Professional Fiduciary to avoid burdening family members. Even the most capable adult child is often times fully committed to work and home responsibilities and may not live conveniently nearby. Parent's of individuals with special needs often appoint/consult a licensed professional fiduciary to help them navigate complicated Medi-Cal and Social Security rules. Under certain circumstances, family members would not be a good choice for fiduciary work due to the lack of appropriate skills or the potential for conflict with siblings or other relatives.
How much do Fiduciary services cost?
A licensed professional fiduciary can be court appointed or privately hired. If a client's matter is court supervised, the Probate Court approves what they deem reasonable fees. In a non-court supervised case, a professional fiduciary would provide their own fee schedule or abide by California's statutory fees.
What type of oversight is there for Professional Fiduciaries?
Professional/Private Fiduciaries are governed by state statute and must report to California's Department of Consumer Affairs on an annual basis. As part of their fiduciary duty, a professional fiduciary will provide their client and/or their beneficiaries with an annual accounting. A fiduciary accounting shall contain a summary of its purpose and content and would contain sufficient information to put the client, their beneficiaries, or any other interested parties on notice regarding all significant transactions affecting the estate during the accounting period.
