2000 Fresno Street, Suite 100
Fresno, CA 93721
Phone: (559) 905-4315





Fiduciary Services

Fiduciary responsibilities help keep safe the Person and the Estate.  Talk with Donald, 559.905.4315 or dfm@inreach.com, to discuss the use of a private fiduciary for your probate or family issue needs. See fiduciaryfresno.com for the Fresno California office and FiduciarySanDiego.com for the San Diego California office.

 

Donald is a California Licensed Professional Fiduciary (PF-913) and a National Certified Guardian.  He associates with a team of dedicated professionals to assist with trusts, special needs trusts (SNT), conservatorship, and guardianship, matters under the jurisdiction of the probate court.  Successor Trustee is a designation fpr Donald in a persons trust. 

 

A conservator or trustee or receiver has legal status making the conservator responsible, via court appointment, to a protected person and/or the person's estate, and the trustee, via contract, responsible to the beneficiaries of a trust. In all cases, fiduciaries must show and document prudent use and protection of the assets they are managing.

 

The trustee who manages and invests the assets of a trust is subject to legal codes calling for prudence and consideration of the purposes, terms, distribution requirements, and other circumstances of the trust. Whether management of the portfolio is partially or completely delegated to an agent, the trustee is still obliged to use reasonable care and as such, must at least be familiar with standard practices and laws governing the proper management of the trust investment assets.

 

Fiduciary services can also assist parties who are engaged in the dissolution of marriage process.  A fiduciary maintains business operations and assets that need to be preserved when lack of trust exists between the parties.

Court Appointed Receiver - receiver must balance the interests of all intended beneficiaries of the receivership, while remaining true to his role as a court-appointed fiduciary.

Receiver

Courts appoint receivers to take custody, manage, and preserve money or property that is subject to litigation so that when the final judgment is rendered, the property remains available to accomplish what has been ordered. The power to appoint a receiver is rarely utilized by the courts, and only upon a showing that it is required to preserve the property. Receivership cannot properly be used to coerce a party or to gain control of a business from someone who is capable of managing it. Receivership is an extraordinary remedy, designed to benefit everyone involved. It is, however, a harsh remedy, since it involves restraining an individual's property, removing it from his control, and causing additional legal expenses.

The appointment of a receiver, which is a provisional remedy to be exercised while litigation is pending, is ordinarily prescribed by statute, as are a receiver's powers. Ordinarily a receiver can be appointed only after a lawsuit is initiated.

According to the statutes of different states, receivers have been appointed in actions for Divorce, the removal of a trustee, or the foreclosure of a mortgage and in proceedings for the dissolution of a corporation, for an accounting of partnership money, or for a creditor's suit. The appointment of a receiver is justified when property in dispute is allowed to deteriorate to the extent where emergency repairs are necessary, and where there is good reason to suspect that the property is going to be sold, wasted, taken out of state, misused, or destroyed if the court does not act to preserve it. A receiver can also be appointed in situations where it appears that no one with a legal right to manage certain property is present, or no mentally competent adult is entitled to hold it. A receiver is sometimes appointed to preserve property during litigation between two parties who appear to have an equal right to use the property but who are unwilling to acknowledge each other's interest.

A judge can appoint a receiver following the filing of an application, or petition, with the court. In certain instances, all those who are interested in a case join together, and in the event that the court has jurisdiction over the property and the parties, an appointment can proceed upon their consent.

 

An application for the appointment of a receiver is often submitted by a creditor. It might be Fraud or collusion for a debtor to have a friendly creditor nominate an individual the debtor chooses. A receiver generally should not be appointed unless notice is served on all interested parties and a hearing is conducted where a judge determines the merits of the case. On good evidence that an emergency exists, however, a judge can grant the petition for a receivership and hold a hearing as soon as possible thereafter.

Donald is a member of the Fresno Estate Planning Council.  See:  fresnoepc.org/members/member/117030

Talk with Donald About Fiduciary Matters

Please see information about Long Term Support and Services here.

 


 

DEFINITION of 'Fiduciary Certification'

 

The certification process to ensure that fiduciaries uphold the prudent investment guidelines and practices set forth by state regulations. A certified fiduciary needs to fulfill all legal requirements set forth by the designation and adhere to the best practices doctrine.

 

 

 

See my fiduciary website