The document outlines the role and responsibilities of professional fiduciaries in California, detailing the various positions they may hold, such as trustee, conservator, and personal representative. It discusses the importance of fiduciaries in advocating for clients who can no longer care for themselves and highlights specific services they provide, including financial management and healthcare coordination. Additionally, it references recent legislation aimed at improving oversight and accountability in fiduciary practices.

1. PROFESSIONAL FIDUCIARY
ASSOCIATION OF CALIFORNIA
(AKA P.F.A.C.)
Presented by
Stella Shvil, Past-President of P.F.A.C.
stella@shvilfiduciary.com
www.pfac-pro.org
“…when only a professional will do”
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2. What is a Professional Fiduciary?
A PERSON WHO ASSUMES A POSITION OF TRUST
Trustee: has the responsibility of carrying out the terms of the trust as set forth in a trust
document.
Conservator: a person who is appointed by the probate Court to handle the affairs of the
Conservatee’s estate and/or person when they can no longer manage their own affairs.
Personal Representative: is an individual appointed by the probate court to administer the
estate of a person who has died, referred to as a “decedent.” A personal representative will either
act as an Executor if named in the will, or as an Administrator if not named in the will, or if there is
no will.
Representative Payee: is a person designated by the Social Security Administration or other
retirement plans to receive the income and pay expenses of an incapacitated individual.
Agent Under Power of Attorney: can include health care and/or financial matters.
“…when only a professional will do”
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3. The Role of a Fiduciary
•Fiduciaries play a unique and vital role in today’s society – serving from the elderly to
those who can no longer care for themselves.
•Fiduciaries serve as a bridge between the client, family, health care providers,
caregivers and attorneys while providing peace of mind by protecting both the physical
and financial interests.
•Fiduciaries are advocates responsible for protecting the quality of life for individuals
who may have no voice and/or can no longer take care of themselves. Such as those
who have memory loss, elderly “orphans” who live isolated, individuals with mental
illness or those facing financial or physical abusive situations.
•Fiduciaries look at the “big picture” to determine what is in the best interest for the
client given the circumstances presented. A trained professional strives to solve even
the most complex problems.
•Fiduciaries also handles financial, health care and quality of life decisions to protect the
wishes of the people they serve, as well as real estate property issues.
•Fiduciaries draw on experience in seeking available public benefits, programs and other
resources that will improve the life of the client and/or supplement their personal
resources.
“…when only a professional will do”
NOTES:
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4. LIST OF FIDUCIARY SERVICES
LIST OF SERVICES A FIDUCIARY CAN PROVIDE:
•Inventory assets such as bank accounts, brokerage accounts, stock and bond certificates, real
estate deeds and other property
•Provide for custody and safekeeping of all assets, documents, records and personal items
•Inventory the contents of all safe deposit boxes
•Organization of paperwork and sorting through mail
•Payment of bills for client and budget management
•Independent review and supervision of investments with portfolio manager on a regular basis
•Coordination of medical care, insurance claims and reimbursement for benefits, as appropriate
•Advocate for client’s medical care and/or treatment, when appropriate
• Provide supervision of property, property manager, tenant issues and lease or rental issues
•Oversight of property repairs or any capital improvements of the main residence or rental
properties
•Monitor collection of rental income, payment of real property taxes, insurance and/or mortgage
•Preparation and supervision of real estate sales and/or purchase with qualified realtor
•Coordinate the preparation and filing of personal tax return and/or trust return, when necessary
•Periodic accounting statements and investment reports whether for court or individual
•Research health care facilities, when necessary
•Monitor and arrange for purchases of clothing, food, furniture and/or medical supplies
•Make pre-need (funeral arrangements) and assure all final wishes are met
• Continual communication and updates with client
“…when only a professional will do”
NOTES:
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5. CASE STUDY #1
CASE FACTS:
1. APS case worker contacted the office regarding an elderly client living alone, little
food, utilities soon to be turned, no one is paying bills., may lose house.
2. Owns home, not sure of other income or funds.
3. Not aware of any family and or friends
4. APS worker suggested we take the elderly man to his bank to withdraw funds to pay
the utilities and step in and handle case.
CHALLENGE:
1. Evaluate the person’s mental capacity and current health issues
2. Reluctant to take anyone to a financial institution to withdraw money from his bank
given the elderly person’s physical state and mental capacity
3. Would need proper legal documentation prior to handling case.
OUTCOME:
1. Informed APS worker I was unable to step in without proper legal documentation that
provided me with authority to assist this person.
2. Due to client’s apparent lack of capacity, at that time, I felt it was important he was
properly evaluated and counseled before making decisions for him.
3. Ultimately, we called the police for a well-check. He was taken to the hospital, was in
fact malnourished and dehydrated. The Public Conservator took case.
“…when only a professional will do”
NOTES:
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6. CASE STUDY #2
CASE FACTS:
•87 year old women with severe dementia, lives at home
•Hoarding and unsafe living environment
•Two male “caregivers”, a former “handyman” the other is a friend
•Caregivers treated the home as their residence for past 2 years
•Adult daughter, has physical and possible mental capacity issues
• Elderly client has substantial wealth and was being taken advantage of
CHALLENGE:
•Remove unqualified “caregivers” – requires legal intervention
•Pop-in visits while going through the transition of removal of caregivers
•Hired an professional organizer and contractors to make the house safe and clean before
bringing the client and qualified skilled caregivers back into her residence.
•Gather all updated medical information
OUTCOME:
•First removed client from residence to a safe temporary place
•Terminated caregivers through use of legal means
•Brought client home to a healthy and clean environment.
•Client has her own bedroom, qualified and caring caregivers, receives proper medical
attention and attends the George Glenner Center twice a week.
“…when only a professional will do”
NOTES:
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7. CASE STUDY # 3
CASE FACTS:
•80 year old Asian women, heavy smoker
•Husband died one year prior – no close friends one nephew in San Diego
•56 year old adopted son ran up several large credit card debts and still asking for
money
•She had out-of-state residence
•Had great health insurance through Tri-care
•Nephews petitioned for Conservator of person and estate
CHALLENGE:
•Does not understand her son was financially abusing her
•Follow up with report of financial abuse with authorities.
•Marshal assets and search for other resources
•Sell out-of-state residence and create budget
•Obtained caregiver to take her out on weekly outings
OUTCOME:
•Sold residence and negotiated reduction of credit card debt
•Obtain proper medical evaluation and necessary meds
•Found wonderful Board and Care facility near family
•New facility encouraged client to stop smoking
“…when only a professional will do”
NOTES:
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8. HELPFUL FACT FINDING QUESTIONS
IMPORTANT INFORMATION TO OBTAIN PRIOR TO CONTACTING A FIDUCIARY:
•Is there a Will, Trust, POA or DPOHC document in place?
•Obtain the names, addresses and telephones numbers of relatives, friends, attorney, doctors and
CPA.
•Is there a fiduciary already named on a legal document?
• Are there numerous unpaid bills?
•Locate recent bank and financial statements. Any safe deposit box?
•If there is financial abuse, have you contacted their financial institution to block the account/s?
•Mortgage on the residence? A reverse mortgage? Large line-of-credit against the house? Is
residence properly insured?
•What is their living environment like? Any safety issues to be concerned about?
•Are there other members of the family living at the residence? If so, are they employed? If so,
where? Did you verify?
•Is there healthy food in the refrigerator? Clean clothes?
•If there are caregivers, are they through an reputable agency?
•Is there a caregiver’s log, of what transpired each day?
•Any current medical issues? Surgeries? Taking medications? Medical insurance in place?
•Do they own any vehicles? Is the vehicle currently insured?
•Do they wear glasses or hearing aids? Has special medical equipment, required?
“…when only a professional will do”
NOTES:
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9. Conservatorship Clinic
“…when only a professional will do”
•Conservator Handbook available at Probate Court
•NO FEE for the class
•Classes offered the 4th Wednesday of each month 1pm to 4pm
•ODD MONTHS: classes in North County @ Silverado 1500 Borden Road,
Escondido, Ca. 92026
•EVEN MONTHS: classes in San Diego @ Collwood Terrace 4518 54th Street
San Diego, Ca. 92115 (Offers a lite lunch and dessert)
•Reservations are required - Theresa Hawkins 619 698-9450
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10. Choosing a Licensed Professional Fiduciary
“…when only a professional will do”
•Does the fiduciary have experience and expertise in handing finances?
•Does the fiduciary have good accounting and bookkeeping skills?
•You can inquire how they manage their practice. Do they use software to handle certain tasks?
• Does the fiduciary have Trust and Estate tax experience?
• Is the successor trustee objective, responsive and compatible with family members and/or beneficiaries?
•Does the fiduciary have Error and Omission insurance? If so, for how long?
•What professional organizations does the fiduciary belong to?
•What continuing education do they participate in?
A fiduciary who is part of PFAC, is someone you can have confidence due to our continual professional
development of our members, our stringent code of ethics and ongoing review and controls. As always
whoever you select, make sure they meet your personal needs and obtain recommendations.
For more information on private professional fiduciaries, contact
Professional Fiduciary Association of California (P.F.A.C.)
One Capitol Mall, Sacramento, Ca. 95814 Phone: 866 886-7322 E-mail: pfac@amgroup.us Web: www.pfac-pro.org
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11. Current Legislation
“…when only a professional will do”
PFAC has been quite active with legislation. PFAC sponsored SB 1550 which anyone (with a few exceptions) who
requires licensing of professional private fiduciaries with oversight by the Professional Fiduciaries Bureau. One of
our more recent PFAC-sponsored bills is AB 1339 (Maienschein), that would bring consistency throughout the state
through transparency and accountability regarding fee schedules, estimate, and proposed compensation when there
is a court appointment. On May 7, 2013, it passed the Assembly Judiciary Committee on a bipartisan 10-0 vote, on
consent and without amendments. It continues to go up the discussion.
AB 1339’s main provisions are:
•Require that when a petition to appoint a conservator or a temporary conservator is filed, the petition will also
include the proposed hourly fee schedule.
•Require an “estimate” of the fiduciary’s proposed compensation from the estate for the first year, for services to be
preformed. This estimate would be submitted concurrently with the completion of an inventory and appraisal of the
estate. This additional requirement would be submitted by a conservator who is a licensed fiduciary, within 90 days
of the appointment.
•Allow for the filing of petitions for periodic payments for services rendered by appointed conservators who are
licensed professional fiduciaries, with court oversight and approval.
To find out if you are working with a licensed professional fiduciary contact the Professional Fiduciaries Bureau 1625
N. Market Blvd, Suite S-209 Sacramento 95834 916 574-7340 or check their website at (www.fiduciary.ca.gov
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12. THANK YOU!
“…when only a professional will do”
If you have any questions, please feel free to contact me:
Stella Shvil, J.D., CLPF
Past-President of P.F.A.C.
3830 Valley Centre Dr. #705-762
San Diego, California 92130
CLPF No 159
Office 858 794-0394 Fax 858-794-4609
E-mail stella@shvilfiduciary.com
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