A fiduciary is a person who assumes responsibility for a position of trust. Fiduciaries serve by court appointment as guardians, conservators and personal representatives of estates. They also serve by agreement as trustees, representative payees or as agents under powers of attorney. Many seniors choose to appoint a professional fiduciary in order to avoid burdening family members and to avoid creating conflict with siblings and other relatives.
Who needs a Professional Fiduciary?
Many seniors with family choose to appoint a Professional Fiduciary to avoid burdening family members. Even the most capable adult child is frequently fully committed to work and home responsibilities and may not live conveniently nearby. And, of course, many family members would not be a good choice for fiduciary work due to the lack of appropriate skills or the potential for conflict with siblings or other relatives.
To learn more about the role of the professional fiduciary join Marguerite Lorenz as she delivers an excellent presentation on the ethical standards that guide trustees & fiduciaries and the common everyday scenarios where these ethical issues come into play in the estate planning and administration process. The main topics discussed in this CLE course include the people involved in the estate planning process, the fiduciary’s Duty of Loyalty, determining the entire estate, marshalling the assets and interviewing the fiduciary. This course has also been approved for California fiduciaries, both for pre-licensing and for continuing education credit. To access the course please click here: Ethical Issues for Trustees & Fiduciaries.
Additional subjects covered include:
- The role of the fiduciary/trustee
- Triggering events
- Beneficiaries & trustees
- Determining who is the client
- The overall goal
- Gathering all the key documents
- Securing the assets
- The Prudent Investor Act
- The succession plan
Marguerite Lorenz is a professional Trustee and Executor and frequent speaker on a variety of Estate Planning topics. As Co-Author of “Ethics for Trustees – A Guide for All Who Serve as Trustee,” she continues to write for various periodicals. Marguerite has always been interested in efficient administration. From her first job as executive secretary for a well established service organization in Los Angeles, to her work in the Internal Audit Department of SunAmerica Financial, to her position in Business Development for a Student Tuition Financing company, Marguerite has continuously streamlined processes, improved the client experience and delivered results. Marguerite has served as Chairman, after being appointed by Governor Brown in 2012, of the Fiduciary Licensing Bureau Advisory Committee in Sacramento. She served as Co-Chair of the Professional Fiduciary Association of California’s 2012 Annual Conference in Anaheim, California.
This CLE course is currently offered in the following states:
- Alaska (AK)
- Arizona (AZ)
- California (CA)
- Connecticut (CT)
- District of Columbia (DC)
- Illinois (IL)
- Maryland (MD)
- Massachusetts (MA)
- Michigan (MI)
- New Jersey (NJ)
- North Dakota (ND)
- Pennsylvania (PA)
- South Dakota (SD)
Attorney Credits offers continuing legal education (CLE) for attorneys in New York and around the country. For more information about CLE in New York please click the following link: NY CLE.
 What is a fiduciary?