Question: ‘My elderly neighbor doesn’t have family nearby and I’m concerned for his well-being. How can I make sure he is looked after?’
Answer: A professional fiduciary, licensed by the Professional Fiduciaries Bureau (PFB), can be hired by independent, productive people who anticipate a future need in making sound financial, health care, and day-to-day decisions. If a person becomes incapacitated or dies, the professional fiduciary can manage their estate.
Services provided by professional fiduciaries may include banking, paying bills, daily care, housing, tax preparation and payment, and household maintenance and upkeep. Some services—such as insurance and medical needs, real estate and personal property, and asset distribution—may be managed by the professional fiduciary themselves, or they may hire other professionals to perform those duties.
PFB’s guide, “What You Should Know Before Hiring a Professional Fiduciary,” includes questions to ask before working with a fiduciary. The fiduciary must have an active license in good standing with PFB. You can access the guide at www.fiduciary.ca.gov, and check to make sure the professional fiduciary is licensed at https://search.dca.ca.gov.
