What is a Private Fiduciary in California?

california private fiduciary

A private fiduciary is a great option for those needing critical services. Seniors may be the top age group to hire one, but any person can benefit from professional fiduciary services. The private fiduciary is able to handle your financial needs regarding medical bills, financial management, and working with your investment professional.

Learn more about what a private fiduciary is in the state of California and how Marcia Campbell, CPA, and her team can help you.

 

The Private Fiduciary Role

A private fiduciary is a professional who is often an attorney or CPA. They are privately hired by an individual or their family to serve in a fiduciary capacity and can be an executor, trustee, or agent under a power of attorney. The terms private and professional fiduciary mean the same thing and are used interchangeably.

A private fiduciary is regulated by the Professional Fiduciaries Bureau. In California, a professional fiduciary is required to be licensed by the state, with exceptions for licensed attorneys and CPAs. Get more information about the qualifications for a private fiduciary.
 

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

Reasons to Hire a Private Fiduciary

A fiduciary does not always require a license. However, this only applies to a family member serving another family member. It can be a difficult role to handle the financial management of a relative, and disputes may occur. To avoid conflict, you may be wise to hire an unbiased third party to fulfill the role. Additionally, there are circumstances where a person may not have family or does not trust them to take on the responsibility, and more. Below are several reasons why you might hire a professional fiduciary.

  • Senior financial management
  • Managing the financial needs of sick or disabled persons
  • Overseas military personnel financial management
  • Handling financial needs of persons without family
  • Financial needs of children

Related Article: How to Help Your Clients Find The Financial Assistance They Need

How Marcia Campbell, CPA Can Help You

As we age, our ability to remember tasks diminishes. It is all too easy to forget little things, but when you lose track of bill payments, it can get difficult. Even if you are not a senior, you may still need someone to help you to ensure your financial well-being. If you or someone you love needs assistance with managing finances, refer them to a trusted professional in California who is experienced in financial management and specializes in helping seniors. Learn more about our professional fiduciary services.

 

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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