Bus: 800.770.3048 Cell: 510.691.4403
Hecker Fiduciary Bus: 800.770.3048
A person to whom property or power is entrusted for the benefit of another. A fiduciary must maintain a separate
account for each client and cannot co-mingle funds.
In the event a person is unable, or unwilling to make personal decisions relative to financial and health matters.
It can be a temporary or permanent circumstance. If for example an individual can't make financial decisions due to
a car accident, someone needs to be able to make sure that all of the financial obligations are met during this time.
If a friend asks you to be their fiduciary you legally can. But if you are going to do this as a business you must be
licensed through the State of California-Professional Fiduciaries Bureau. Due to the stress and anxiety this can cause,
we highly recommend hiring a professional.
Absolutely. Planning ahead is so important. By naming a fiduciary that is not a family member, it takes the personal
issues out of it. I have had several occasions, where Mom dies, assigning her 2 daughters (that never got along) as joint
trustees. What happens after mom dies? CHAOS! Money changes people!. One daughter wants to sell everything,
the other wants to control it all. After 3 years and additional legal fees, the properties finally get sold and distributed.
If the trust had been set up properly and hiring a non-family member as a trustee, this would not have happened. A
fiduciary would have followed the instructions of the trust / will and the drama and delays would have been prevented.
When hiring a licensed Fiduciary, there is government over site. There are strict regulations as to what a Fiduciary can
and cannot do. The training a Fiduciary must go through is clear and concise. If there is any impropriety, a fiduciary
can loose their license.