The founder of Carolyn M. Young Fiduciary Services, Carolyn Young is a licensed professional fiduciary serving residents of Sacramento, California, and the surrounding region. A member of the Professional Fiduciary Association of California (PFAC), Ms. Young manages more than $75 million in assets for a variety of clients, including seniors.
In the interest of better serving seniors living in California, the Elder Financial Abuse Interagency Roundtable (E-FAIR) recently launched the Senior Gateway, an online tool focused on consumer protection. The website, which is hosted by the California Department of Insurance (CDI), is found at http://www.seniors.ca.gov.
The site is designed to provide information to inform seniors and their caretakers about the potentials for scams and other forms of abuse. The resources offered by the Senior Gateway include information on preventing and reporting financial fraud and other types of financial abuse targeting seniors. It also features educational resources on insurance annuities; health care options; and investment options, such as reverse mortgages.
A state licensed fiduciary and charter member of the Professional Fiduciary Association of California, Carolyn Young is the owner of Carolyn M. Young Fiduciary Services, a personal and financial services company based in Sacramento. Carolyn M. Young Fiduciary Services oversees and administers $75 million in assets under court appointments and various trust agreements on behalf of clients.
The role of professional fiduciary is one of personal trust and sacred responsibility. Such an individual works on behalf of his or her clients in a manner that ensures the clients’ best interests and legally expressed wishes are addressed and carried out in the areas of finance, health, and personal care as well as in estate administration and distribution.
Whether a professional fiduciary receives appointment by agreement or by court order, the appointment signifies both a legal obligation and a high degree of personal trust in the professional knowledge, judgment, and capabilities of the fiduciary to act in the client’s best interests. Professional fiduciaries licensed in California must meet education and/or experience requirements specified by the state Professional Fiduciaries Bureau. In addition, licensed fiduciaries must maintain annual continuing education requirements and, in most cases, a surety bond once they begin practice.
Individuals considering hiring a professional fiduciary in California can consult with a professional licensing organization, such as the Professional Fiduciaries Bureau, or membership group, such as the Professional Fiduciary Association of California, to seek out qualified practitioners.
Carolyn M. Young owns and operates Carolyn M. Young Fiduciary Services, headquartered in Sacramento, California. Aside from her responsibilities in providing fiduciary services to trust and estate clients, Carolyn M. Young actively supports the Juvenile Diabetes Research Foundation.
The Juvenile Diabetes Research Foundation (JDRF) is preparing to host its sixth and final Ride to Cure Diabetes Event for 2013, which is scheduled to take place November 21-24, 2013, in Tucson, Arizona. Now in its 30th year, the Tucson ride is part of the University Medical Center’s Tour de Tucson, recognized as one of the country’s premier bicycling events for people of all ages and fitness levels. The Ride to Cure Events are designed to help raise money to fund research and develop a cure for juvenile diabetes.
As the leading organization worldwide that raises funds for Type 1 diabetes research, the JDRF is dedicated to improving the lives of individuals living with the disease and to eradicating Type 1 diabetes. To date, the JDRF has raised more than $1.7 billion, granting more than $110 million for diabetes research in 2012 alone.
Carolyn M. Young provides fiduciary services to clients in six counties in California through her eponymous firm, Carolyn M. Young Fiduciary Services. In that capacity, Ms. Young assumes responsibility for administering the estates of clients who have passed away or can no longer manage their financial affairs.
Here is a brief overview of the fiduciary profession.
Question: What is a fiduciary?
A fiduciary is an advisor who assumes responsibility for an individual’s estate and is responsible for administering the estate in the event of resignation, incapacity, or death.
Question: What are the responsibilities of a fiduciary?
Among their many responsibilities, fiduciaries act as trustees, executors, or conservators of an individual’s trust or estate. A few of the duties include the sale or rental of real estate, the sale or storage of personal property, and guidance in regard to financial matters.
Question: How does one become a fiduciary?
In the state of California, any individual who acts in the capacity of an agent with a power of attorney, in the case of a trustee, guardian, or conservator, must obtain his or her license as a California Professional Fiduciary. All California fiduciaries are governed by the Professional Fiduciaries Bureau.
Currently responsible for the administration of more than $70 million in client assets, Carolyn M. Young Fiduciary Services represents the interests of clients gained through court appointment or other circumstances. A socially concerned businesswoman, owner Carolyn M. Young frequently elects to provide continuing pro bono fiduciary services when some clients no longer have available resources. These services include helping clients obtain qualified public assistance. In addition to her professional generosity, she and her family are active in supporting the Juvenile Diabetes Research Foundation.
In recent news, one area of research that the Juvenile Diabetes Research Foundation is drawing focus to is the prevention of type 1 diabetes, which is growing worldwide at an unprecedented rate. While the causes of type 1 diabetes are both genetic and environmental, current research has not yet established the exact contributors to a disease whose rate is doubling every 20 years. Since many affected by this condition are children between the ages of one and five, the need to support research in prevention is urgent.
Acting in the interest of the elderly, the disabled, and others, Carolyn M. Young Fiduciary Services has been serving the citizens of the Sacramento, California, region for more than 25 years. Fiduciaries, whether court appointed or retained by private clients, can serve in a number of capacities. Among the fiduciary services offered by owner Carolyn M. Young is that of acting in the role of conservator.
When a person is judged by a court to be mentally or physically incapable of managing his or her own affairs, then the court may appoint a conservator to administer the conservatee’s personal or financial matters. For the protection of the conservatee, the court will require the appointed fiduciary to receive advanced approval for many actions and keep the court apprized of their actions on behalf of the conservatee. Some of the specific responsibilities that a conservator may undertake include making application for pensions, receiving income, paying conservatee expenses, and tax preparation.
As a leading force in juvenile diabetes research, the Juvenile Diabetes Research Foundation (JDRF) works to find a cure for the disease while also providing support and knowledge to patients and their families. The organization was founded in 1970 by concerned parents looking to push research efforts and spread hope to those who knew little about the disease. Since that time, the JDRF has grown immensely and enjoyed widespread support from the diabetic and medical communities. Interestingly, the majority of JDRF volunteers also possess first-hand knowledge regarding diabetes and the effect it has on individual lives. This personal connection contributes to the institution’s drive and motivation.
Today, the JDRF conducts research projects in countries across the globe and has managed to raise over $1 billion in research funding. The organization also labors to advocate for further research efforts and increase government spending to combat diabetes. The Bag of Hope, School Advisory Kit, and Adult Type 1 Toolkit all represent great efforts by the JDRF to reach out and assist individuals diagnosed with type 1 diabetes. In addition, the Juvenile Diabetes Research Foundation provides a comprehensive online program geared towards patient support. Individuals may contact the Online Diabetes Support Team and speak one-on-one with diabetes professionals. The JDRF also produces a number of helpful publications, including Countdown Magazine, Life With Diabetes E-Newsletter, and Research Snapshot.
About Carolyn M. Young Fiduciary Services:
As owner of Carolyn M. Young Fiduciary Services, Carolyn M. Young possesses over 25 years of expertise in the financial services industry. Specializing in fiduciary offerings, Carolyn M. Young Fiduciary Services currently oversees more than $75 million in client assets, working continually to help clients gain autonomy and independence. Ms. Young and her family also remain heavily involved with the Juvenile Diabetes Research Foundation.