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.
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.