Covi Fiduciary
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Protecting What Matters While Servicing the Heart

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About Me

My name is Renee Covi. After a fulfilling career in executive leadership roles at Wells Fargo, Capital One, Amazon, and AI startups, along with my personal experience managing health and financial matters for elderly family members, I decided to pursue my passion for helping others by focusing on the two areas that are often most critical to people’s well-being: health and finances. This path led me to become a California Professional Fiduciary.

I earned my bachelor’s degree in Psychology from Harvard University and my MBA from the UCLA Anderson School of Management. I later obtained my Professional Fiduciary license following extensive training with experienced fiduciaries and completion of the Professional Fiduciary Association of California (PFAC) educational requirements.

With my background in financial services, executive leadership, customer service, and working with individuals from diverse backgrounds, I am well-prepared to support clients and their families when they are no longer able to manage their own personal, financial, or healthcare affairs. I am committed to providing compassionate, practical guidance and making a positive impact in the lives of those I serve.

Outside of work, I live in the East Bay of the San Francisco Bay Area, where I raised three children. In my free time, I enjoy running, gardening, mountain biking, hiking with my dogs and friends, and volunteering to help address food insecurity and promote sustainability.

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What a Fiduciary Does and Why Might You Need One?

A Fiduciary within California is a licensed professional who provides critical services to seniors, persons with disabilities, and children—much like a carefully managing important details behind the scenes. Fiduciaries have a legal and/or ethical relationship with the person they serve, known as the beneficiary. Their primary responsibility is to act in the beneficiary’s best interests. They manage ‘matters’ for clients, which include financial management, housing and medical needs, as well as investment management. Services are broad and include help with paying bills, organizing tax documents, securing the right housing support, assisting with medical appointments, and serving as a Trust or Estate Administrator, or as a Conservator.

To become a licensed fiduciary in California, one must have a Bachelor’s Degree, pass an extensive and demanding exam, complete 30 hours of approved education courses, earn 15 hours of continuing education credit each year, have a clean background check, and be bondable. The bond is required by the Courts to ensure and guarantee that the fiduciary performs their duties ethically and in accordance with state law.

Fiduciary duties include duty of care, loyalty, good faith, confidentiality, prudence, and disclosure. When you’re named a fiduciary and accept the role, you must – by law – manage the person’s money and property for their benefit, not yours.

Some specific examples on services include:

Estate Executor

Notifying potential heirs and creditors, inventorying the deceased assets, resolving debts, and distributing inheritances

Trustee

Fulfilling the responsibilities of executing the requirements laid out in the Trust per the Settlor’s wishes and acting in the beneficiaries’ best interests

Conservatorship

Providing services for those who are mentally or physically incapacitated

Agent Under a Power

Acting as an agent for someone who has given them power of attorney to make financial decisions like paying bills and medical decisions.

A Professional Fiduciary Has Basic Duties:

Act only in their best interest

Because a Fiduciary is dealing with someone else’s money and property, the duty is to make decisions that are best for the Client.

Must keep their money and property separate from clients

A Fiduciary will never mix their money or property with their clients.

Keep good records

A Fiduciary must keep true and complete records of their money and property and for probate cases will need to share accountancy and other records with the courts

Manage the client’s money and property carefully

Fiduciaries have important financial responsibilities and must carry them out with care. They might pay bills, oversee bank accounts, and pay for things they need. They might also make investments, pay taxes, collect rent or unpaid debts, and get insurance for them, if needed.

My Services Offered

I offer private professional fiduciary services, much like a Ghostwriter Facharbeit managing complex details behind the scenes: this includes trust administration, estate administration, conservatorships of the estate and person, and serving as an agent under power of attorney for financial and healthcare needs.

Trust Administration

Estate Administration

Conservationship

Health Power of Attoryney or Advanced Health Care Directive

Financial Power of Attorney (Durable Power of Attorney)

Fiduciary Fee Structure

Trust Administartion

N

1% of Gross Value $1,000,000 to $5,000,000

N

.75% of Gross Value $5,000,000 to $10,000,000

N

.50% of Gross Value $10,000,000 to $15,000,000

N

25% of Gross Value $15,000,000 and above

Hourly Rates

N

Professional Fiduciary Services, Conservatorship, Accounting: Standard Rate: $200 per hour.

N

Bookkeeping (Paying bills): $100 per hour

**Fixed fee matters such as Trust or estate administration will be charged a fixed fee percentage of the aggregate estate or trust value with respect to the total assets under supervision.

***Fees are invoiced monthly and paid from client funds. Fees paid from decedent estates or Conservatorship funds are pursuant to Probate Code Section 2643, those periodic payments will instead be collected as per probate requirements.