Another very important job for the Fiduciary is handling the financial assets of the client. There are two legal documents that allow the Fiduciary to manage these assets.
The
"Power of Attorney"
(
POA)
are for assets not listed in a living trust.
As a
Successor Trustee
, the Fiduciary manages the assets listed in the Living Trust.
This allows the Fiduciary to handle all financial responsibilities at the time the client can no longer handle it themselves.
A Fiduciary can also help with family conflict. Sometimes family can be the biggest obstacle for someone who is aging. In addition there may be outsiders or a family member that has undue influence over the senior, not having their best interest at heart. It's sad but true.
It is the responsibility of the Fiduciary named on the legal documents to follow the instructions and wishes of the client. Some of the services provided are:
Bank Accounts-Reconciliations
Mortgages Payments-Possible Refinancing
Working with Attorneys,
Financial Advisors, Realtors
Tax Preparation
Bill Payment Services
Budgeting and Planning
Imagine if someone doesn't have any family. How overwhelming would that be?
Who do you trust?
Would asking a friend will be too much?
Hiring a California Licensed Professional Fiduciary is really the answer.
Think about having all responsibilities of your loved one on top of your own.
Whew, it's exhausting just thinking about it, isn't it?
