What Is Required of a Professional Fiduciary?

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.

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