FIDUCIARY – fɪˈdjuːʃIəri – a person or organization responsible for managing the money or property of another person or organization.
– Cambridge British English Dictionary.
We, as Licensed Professional Fiduciaries at ConservaTrust Fiduciary Services, Inc. (ConservaTrust), not only manage the financial affairs of clients, when necessary, we also manage their personal affairs. This could include medical decisions, arranging the best, least-restrictive living environment, and engaging the services of caregivers.
Essentially, we take care of people and/or their assets, when they can no longer do so or when they choose to no longer do so. Most often this is because they’ve lost the capacity to handle their affairs or passed away. However, some clients simply don’t want to manage their affairs and delegate that duty to us even though they still have capacity. Occasionally we are asked to manage trusts or conservatorships for younger people with learning disabilities or behavior issues their parents do not wish to continue to manage.
When someone passes away, our job is to ensure that their wishes or directions are fulfilled as specified in their Will or Trust. When someone passes away without a Will or Trust we act as Probate Administrators and follow the laws of intestacy.
When it has been determined that an individual lacks sufficient capacity, our job is to ensure that the assets are used for the client’s benefit and that he/she is as safe, healthy and happy as possible. Depending on the situation, we act as either Trustee, Power of Attorney for Finance, Power of Attorney for Healthcare or as court-appointed Conservator.
In California, professional fiduciaries are licensed by the Department of Consumer Affairs Fiduciary Licensing Bureau. Licensee applicants must pass criminal background checks, demonstrate experience in the fiduciary field, successfully complete a series of certification classes and pass not only a California licensing exam but also a national licensing exam. Once licensed, professional fiduciaries must complete qualified Continuing Education Credits each year and file an annual report with the Bureau.
The professional fiduciaries at ConservaTrust have more than 80 years of combined experience helping clients and their beneficiaries navigate the often complex and sensitive issues facing them. A wide range of services is offered with a focus on care, confidentiality and discretion.
Every client is unique and services are tailored to each individual and their family situation. ConservaTrust can provide the specific level of service needed for a particular client, with services ranging from management of complex businesses to coordinating pet care. For examples, please see the “Service Areas” tab.