Carolyn M. Young Fiduciary Services
As president and owner of Carolyn M. Young Fiduciary Services, Ms. Young is responsible for administering trusts for her clients; she also serves as a conservator, executor, and guardian for clients’ financial and health care needs. Since 1986, Carolyn M. Young Fiduciary Services has served clients in the counties of El Dorado, Nevada, Placer, Sacramento, San Joaquin, and Yolo in California.
Below are a few of the common terms used when handling trusts.
Abatement: Abatement refers to the devaluation of a gift in a will resulting from an insufficiency of funds to cover all gifts once the estate’s legal obligations are paid in full.
Conservator: A conservator is a court-appointed individual or institution responsible for managing and caring for the property of someone who is incapable of caring for it himself or herself.
Escheat: In the event that there are no heirs or next of kin, an escheat is the reversion of property to the state. This originally was only applicable to real property but now includes all types of property.
Inter vivos trust: An inter vivos trust is one that is made by a living person. This can be done for a variety of reasons, including estate planning, asset protection, and to protect beneficiaries who may be undergoing personal difficulties.
Juvenile Diabetes Research Foundation
Carolyn Young, owner of Carolyn M. Young Fiduciary Services, has nearly 30 years of experience in her field. In addition to assisting people living in the Sacramento, California, region with their financial needs, Ms. Young enjoys spending time with her grandchildren, one of whom was diagnosed with juvenile diabetes. In support of her grandchild, she donates to the Juvenile Diabetes Research Foundation (JDRF).
The largest non-governmental funder of type 1 diabetes research, the JDRF organizes a number of programs to support research on juvenile diabetes, such as the annual Walk to Cure Diabetes. Each year, US groups host more than 200 Walks, while more events take place internationally. JDRF organizers report that nearly 1 million people take part in the flagship fundraising event each year.
Through these worldwide events, the foundation has raised over $1 billion since 1992 to fund type 1 diabetes research. This milestone was reached through the support of both large and small donations and, of course, through the dedication of the walkers.
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.