What’s a Fiduciary? Professional Fiduciaries are entrusted to provide financial and healthcare options that ensure their client’s dignity and peace of mind. They provide the experience, resources, and knowledge to oversee services. For example, paying bills, legal, investment management, medical care, housing, and nutrition, among other things.
Professional Fiduciaries: Licensed and Regulated
Professional Fiduciaries, licensed and regulated by the State of California, must follow a strict code of ethics. One must take courses required by the licensing bureau, pass a lengthy exam, and attend continuing education. Plus, have a clean background check, and be bondable.
California Probate Code
The California Probate Code strictly binds Professional Fiduciaries. A Professional Fiduciary ultimately answers to the Court even if the matter is not court-supervised. Professional Fiduciaries are responsible for the actions of anyone they hire to manage a client’s needs. Such as investment companies or realtors. The court may surcharge the Professional Fiduciary for client losses resulting from improper management.