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SoCal Private Fiduciary is an independent private fiduciary located in Los Angeles, CA. Find licensed professional fiduciary services and fees processing.

What does it involve being a fiduciary?

A fiduciary is someone in whom powers and/or property are entrusted for the benefit of another.  A public fiduciary works at the city or county level as an administrator to assist citizens and families who need fiduciary services, but cannot afford them, such as estate administration.  A private fiduciary is hired by a client or appointed by a court to act in matters normally related to the probate division.  A Private Professional Fiduciary is someone who is licensed by the state to act in similar roles in private practice for clients as a primary business operation.

Essentially, a fiduciary exercises discretionary authority and control in regard to a certain situation. This situation can be personal or business related, and sometimes both. Personal situations deal with estates, trusts, conservatorships, etc.; but they could also involve someone in, for example, a bill payment manager role. In contrast, business situations include positions such as being an administrator for a bankruptcy or receivership, or acting as an operations, project, or program manager.  In any of these roles, the fiduciary always acts with a duty of faithfulness to the best interests of the client in completing the tasks on time and within budget, allowing some contingency for court delays and other unexpected family or business reasons.

What are the benefits of using Private Fiduciary Services?

There are numerous benefits to using a Private Professional Fiduciary.  This is someone who can be completely neutral as a third party, which can stop conflicts of interest and provide a gate-keeper against issues or mismanagement that may have occurred.  When you are in need of a fiduciary, it is often a highly personal and sensitive situation, which could be in relation to a loved one’s death, the guardianship of a child, or something similar.  Therefore, having an experienced fiduciary act in these positions of responsibility can eliminate the risk involved from choosing a close family member for these roles.

Additionally, Private Professional Fiduciary firms will have trusted and experienced people on their team. These individuals will have the education and training on how to deal with these legal circumstances. Unlike family members or friends, you can rely on these experts to determine what is going on and know how to handle it. This provides a real sense of relief and takes the strain off the family or business.

A great deal of responsibility and duty

Being a fiduciary and offering a Professional Fiduciary Service does not come without risks. Indeed, it involves a whole range of responsibilities and duties, whether it is through acting as a guardian or being a member of an investment committee. There is always a liability risk involved in handling certain matters; however, this risk is reduced dramatically by appointing people as fiduciaries who are experienced in knowing how to fulfill their fiduciary roles. Oftentimes Professional Fiduciary Services will use various contracts and nondisclosure agreements to protect both their clients and themselves.

When thinking about potentially using a fiduciary, it is always important to check their credentials. Are they licensed by their state to do business as a Professional Fiduciary?  Do they hold any additional certifications or other qualifications in the areas in which they work?  What experience do they have?  Asking these types of questions will ensure the Private Professional Fiduciary is capable, reliable and responsible to perform in the intended role.

Ultimately, you can rely on a licensed Professional Fiduciary to provide seasoned, expert, and impartial services.

This content has been written by associate in nursing skilled related to Private Fiduciary, a corporation famed to supply wonderful help on Professional Fiduciary.


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