What is a Private Fiduciary in California?

Do you need help with your financial accounts? Is there no one you can trust to manage your finances? Depending on your situation, you may consider a private fiduciary. For some folks, it may not be clear what a private fiduciary is and most importantly when you might need one. Below are a few examples of clients who have come to Marcia Campbell, CPA for a professional fiduciary.

Please note that no real names are used in the examples below.

Aging or Financial Upkeep

Clients seek financial services because they no longer want to manage their finances.

Miss F is 92 years old and she is an extremely smart lady with a great memory and a very sharp mind. She took her retirement funds and invested them herself. Her nest egg prospered and she built up quite a large estate. Eventually, Miss F decided the paperwork was getting too confusing for her and wanted some help so she hired Marcia as a private fiduciary to buy or sell as she requested and then Marcia sent the information to the broker.

Related Article: What are the Responsibilities of a Professional Fiduciary?

Declining Health Condition

Clients come to Marcia Campbell, CPA and team when they struggle with health conditions and want to ensure their estate is managed and secure.

Miss D is 67 years old and has a malignant tumor. She stopped taking chemo about a year ago and is on Hospice care in her home. She has 24-hour care and, at this point, doesn’t recognize her best friend or even the caregivers who take care of her. Marcia was brought in by her attorney after her initial diagnosis. There was enough time to set up the trust and power of attorney, and then get the assets into the name of the trust. With no immediate family, it benefitted Miss D to have a private fiduciary to manage her brokerage accounts and commercial and residential properties. 

Have a question about private fiduciary services? Contact us now.

Helping Elderly Parents

Private fiduciary services may not be necessary for you but may benefit someone you love – for example, your elderly parents

An attorney called Marcia about Client B. The attorney was working on the client’s trust documents and needed some help. Client B visited with her daughter, who lived out of state, as the daughter needed someone to help her parent when she could not be there. After signing the legal documents for the estate and explaining the legal concepts, Client B went to the bank to change the titles of the accounts to the trust name. Now, the daughter pays her parent’s bills online and the Marcia Campbell team takes care of the tax returns. Client B felt comfortable being taken care of by their daughter and private fiduciary.

 

Do you need a private fiduciary in California? Schedule time with Marcia Campbell, CPA.

If you need help, please contact us by filling out our Contact Form or by giving our office a call at +1(951)686-3608.

As the most experienced CPA in the Inland Empire who specializes in working with seniors, Marcia L. Campbell is committed to helping each client thrive by caring for their personal and financial wellbeing with genuine interest, well-established expertise, and a focus on respectful partnerships. Marcia’s team specializes in a number of services, including elder & financial care, court & trust accountings, as well as private fiduciary and tax services. At Marcia L. Campbell, CPA, we understand the importance of our clients’ individual needs and are committed to helping them make the best personal and financial decisions for their future.

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