What is a California Licensed Professional Fiduciary?
A California Licensed Professional Fiduciary (CLPF) is an individual or entity that has obtained a license from the California Department of Consumer Affairs, specifically the Professional Fiduciaries Bureau.
A professional fiduciary is someone who is appointed to act in a position of trust and responsibility to make decisions and manage the affairs of individuals who are unable to do so themselves due to various reasons, such as incapacity, disability, or other circumstances. The role of a professional fiduciary is to act in the best interests of their clients and protect their assets and well-being.
In California, professional fiduciaries can provide a wide range of services, including but not limited to:
Conservatorship: A professional fiduciary may be appointed by the court as a conservator to manage the personal and financial affairs of an incapacitated adult who is unable to manage their own affairs.
Trust Administration: A professional fiduciary can be appointed as a trustee to manage and administer trusts, ensuring that the terms of the trust are followed and the beneficiaries' interests are protected.
Estate Administration: A professional fiduciary can handle the administration of estates, including the distribution of assets, payment of debts, and resolution of any related legal matters.
Financial Management: Professional fiduciaries can assist individuals in managing their finances, paying bills, managing investments, and ensuring that financial obligations are met.
Personal Care: A professional fiduciary can provide personal care services, such as arranging for medical care, managing living arrangements, and coordinating other daily living needs.
By obtaining a license as a California Licensed Professional Fiduciary, individuals or entities are recognized by the state as qualified and regulated professionals in the field of fiduciary services. They are required to meet specific educational and experience requirements, adhere to a code of ethics, and comply with regulations to ensure the protection and well-being of their clients.