The fiduciary role is one of great trust, integrity, responsibility, and care. A fiduciary is a person entrusted to act in this capacity, with impartiality, and for the sole benefit of another and their expressed wishes.
Today, many individuals are appointing a licensed Private Professional Fiduciary to commit to the responsibility of administering their future affairs. The reasons may include a desire to lift the burden away from friends and family; or realization that loved ones live far away, have pressing family or career obligations, or lack the necessary skills for the role. A neutral administrator can be particularly beneficial when conflict exists between family members.
The following list provides an overview of common fiduciary engagements. Each situation is unique and we would be pleased to discuss your particular needs with you, or together with your trusted advisor. Fiduciary services are offered both privately and under probate court supervision.
Successor Trustee and Trust Administration $175/Hour
The role of your Successor Trustee is to manage and administer trust assets for the benefit of the Trustor, and beneficiaries, in accordance with instructions set forth in the Trust documents. The Successor Trustee has a duty to locate and safeguard trust assets, prepare inventory and appraisals; notify and communicate with named beneficiaries and interested parties; collect income and pay expenses; invest according to a fiduciary standard to make assets productive; manage real property, keep detailed records; liquidate assets as required for care of Trustor or distribution; work with creditors and pay approved debts; file all necessary tax returns; file required accountings; and make beneficiary distributions in accordance with trust instructions.
Successor Trustee for Trustor Sub-Trusts $175/Hour
The Successor Trustee can also manage and administer sub-trust funding and income for the long-term benefit of your future beneficiary. We will work with your beneficiary to balance distributions, safeguard public benefits, and administer funds as specified in the trust instrument. We invest assets in accordance with fiduciary standards, keep detailed records, provide accountings, and file necessary tax returns.
Successor Trustee for Special Needs Trusts $175/Hour
Special Needs Trusts are created to preserve assets in trust while supplementing the cost of care of special needs beneficiaries. The trustee makes allowable distributions without jeopardizing the eligibility of needs based public benefits. Trust distributions provide funding to enhance the beneficiary’s quality of life in areas such as education, clothing, and social and recreational activities.
Decedent Estate Administration Fees Per Court Approval
We may serve as Executor of Estate where a vacancy exists, or when the named party prefers not to handle the responsibilities and complexities of administration of the estate’s assets and debts. Responsibilities for estate settlement are unique with each case, however they generally require the responsible party to: marshal all assets of the estate, prepare inventories and appraisals; arrange for sale or disposition of real estate and personal property owned by the decedent; address business holdings if required; file decedent’s estate taxes and outstanding tax obligations; notify named beneficiaries and interested parties; identify creditors, provide legal notice, and petition court approval to settle debts; pay decedent’s final expenses and estate administration; and issue approved payments to claimants, make final distributions to beneficiaries, and close probate.
Temporary Conservator Appointment
In cases where there may be a delay in establishing a general conservatorship, the court may appoint a Temporary Conservator for the person, the estate, or both. The role of the Temporary Conservator is to take immediate action to provide security, support, and care of the Conservatee, and to locate, manage, and safeguard the Conservatee’s finances and property from loss or damage. We maintain detailed records of all activity and transactions, and file accountings as required to the court. We coordinate closely with the General Conservator petitioner and loved ones to develop a care management plan and a financial plan to best serve the Conservatee and preserve their quality of life. The Temporary Conservator continues to act in this fiduciary role until the General Conservator can be appointed and assume their duties.
Consulting Services
For individuals who are serving as a family successor trustee or executor, we offer fiduciary consulting services. You have been given a great honor and a great responsibility. There are many resources to help you, and your attorney, tax professional, and financial advisor will be your essential team of advisors. Our consulting services are available to assist you along the way, and can be particularly useful when you are faced with challenging or complex matters. Services may include problem solving, research, referrals, and time saving resources. Most importantly, we can help troubleshoot, devise solutions, and caution against pitfalls as you carry out your duties. Please call for an introductory consultation.
We reserve the right to charge additional compensation when a case involves a higher level of risk or requires extraordinary services. Please contact us to receive a formal fee schedule.
Grace Fiduciary Services 