Services

I offer private professional fiduciary services including: 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

Trust Administration is the management of the assets that exist in a trust. A trust is created when an individual (a settlor) places their assets into the care of a third party (trustee) for the benefit of someone else (beneficiary). The Trustee is sometimes a family member or friend but at times someone seeks the help of a Professional Fiduciary to administer the Trust.

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Examples of Responsibilities Include:
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Hold, manage, and administer the funds in the trust as determined by the Trust.

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Obtain an appraisal from a property appraiser of any valuable assets including real estate, jewelry, artwork and other collectibles.
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Identify all the assets within the trust which is also called ‘marshaling the assets’.
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Protect all the assets and perform regular accountings so there is transparency to the Trustor when the Trust is revocable and to the beneficiaries when the Trust becomes irrevocable.
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Responsible for distributing the trust’s funds to the beneficiaries. While the assets remain a part of the trust, the trustee is responsible for any investments that are made, managing real property included in the trust, filing income tax and estate tax returns, and applying for federal estate tax exemptions.

Estate Administration

Estate Administration: If someone dies without a will the court can appoint an individual to settle the estate’s affairs. An estate administrator must:

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Examples of Responsibilities Include:
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Notify prospective creditors of the person’s death
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Track down, collect, inventory, and appraise the decedent’s personal assets
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Responsibly manage the decedent’s assets until the estate’s affairs are settled
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Pay any potential creditors outstanding debts owed by the estate
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Distribute any remaining assets to beneficiaries
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Close out the estate with updates to the probate court

Conservatorship

This is when a court proceeding appoints a responsible person, such as a Professional Fiduciary or a family member, to make decisions for an adult who is unable to care for themselves or their finances. A judge will only appoint a conservator if other less restrictive options are not available.

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Protect the well-being of the person or estate they are in charge of. This includes providing for the conservatee’s physical and mental needs.
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Manage the conservatee’s assets in their best interest. This includes keeping the conservatee’s money separate, making prudent investments, and not taking unnecessary risks.
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Make decisions on behalf of the conservatee, such as where they live, what kind of healthcare they receive, and how to respond to crises.
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A conservator must maintain careful records and provide proof of payment for all expenses.
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Attend court hearings at least once every three years to get their accounts approved. They must also hold a hearing if the conservatee or an interested party challenges the accuracy of their account.
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Health Power of Attorney or Advanced Health Care Directive

This document allows a person (the “principal”) to designate an agent to make medical and health care decisions on their behalf if they become incapacitated and cannot make those decisions themselves.
Key Features:

Agent Selection

The principal names one or more agents who will have the authority to make health care decisions.

Specific Instructions

The principal can include specific instructions about their health care preferences, such as end-of-life care or organ donation.

Durable Nature

The power of attorney becomes effective only if the principal is incapacitated, as defined in the document or by law.

Living Will

This document outlines the principal’s wishes regarding end-of-life care if they are unable to make decisions for themself.

Financial Power of Attorney (Durable Power of Attorney)

This document allows a person to appoint an agent to manage their financial and legal affairs if they become incapacitated or unable to handle their own affairs. For Example, if a Fiduciary is named as a POA they could provide assistance with paying bills timely.

Key Features:

Agent Selection

Scope of Authority

Durable Nature

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