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A fiduciary is
a person
who takes responsibility for taking care of the needs and/or property
of another person for the benefit of that person. The person served by
the fiduciary places trust in the fiduciary to manage his or her
affairs solely for his or her benefit and not for the benefit of the
fiduciary. The element of trust becomes crucial when the person
receiving the services is frail, vulnerable, or incapacitated.
Entrust will provide fiduciary services
including guardianship, conservatorship, personal representative, and trustee* services. In addition, we provide a range
of related services, including consulting*, training, and
presentations.
We have successfully engaged with
non-professionals serving in a fiduciary capacity who are acting on
behalf of an elderly family member or serving as personal
representative of a loved one's estate to guide them* through these
complex and sometimes overwhelming matters. References are available
upon request.
For
more details about our services, please contact
us.
* We provide trustee and
consulting services through private professional services arrangements
executed by competent individuals with the assistance of legal counsel.
We are sought out to provide these types of services because of our
qualifications, training, and experience as certified fiduciaries. In
our practice we do not differentiate between court-appointed matters
and private arrangements but rather apply the same high standards
required of certified fiduciaries to all matters in our office. We are,
however, required by our certifying entity to disclose to our clients
that matters that are not supervised by the courts are outside of that
entity's regulatory and disciplinary jurisdiction.
The guardian of an incapacitated person has
the same duties and responsibilities as the parent of an unemancipated
minor. The guardian is entrusted with the
custody of the ward and may determine the most suitable living
conditions for the ward, ensuring that the ward resides in the least
restrictive environment possible. The guardian shall make provisions
for the care of the ward and, if appropriate, may arrange for the
continued training and education of the ward. The guardian may also
give consent for the personal care and medical treatment of the ward.
The guardian is responsible for reporting the condition of the ward to
the court on an annual basis. Entrust also provides more frequent
written and/or verbal status reports to family members, friends, and
interested parties as appropriate.
A conservator is appointed by the probate
court to manage the financial affairs of someone who is determined by
the court to be unable to manage his or her own finances or property.
The conservator manages the assets of the protected person for his or
her benefit under the supervision of the court. The conservator may
invest or reinvest the funds of the estate as a trustee would, in
compliance with the Prudent Investor Rule (as articulated by the
Arizona Supreme Court in the Certified Fiduciary Training Manual). The
conservator is required to file an annual accounting with the court.
When appropriate, Entrust will provide regular updates to family
members and/or interested parties, generally on a monthly basis.
Personal Representative Services
A personal representative is appointed by the probate court to administer the estate of a deceased person. The personal representative is responsible for:
- Identifying, inventorying, and protecting all of the estate’s assets;
- Paying bills and allowable claims against the estate;
- Locating heirs and beneficiaries;
- Paying administrative costs of probate; and
- Distributing remaining assets to heirs and/or beneficiaries.
Because of
their expertise in managing and settling estates, private fiduciaries
are often designated trustee, co-trustee, or successor trustee when an
estate’s trustee becomes incapacitated or dies.
Entrust will use judgment and care that persons of prudence,
discretion, and intelligence exercise in the management of their own
affairs, not in regard to speculation but in regard to the permanent
disposition of their funds, considering the probable income as well as
the probable safety of their capital (consistent with Title 14-7610,
Arizona Revised Statutes). Entrust strives to maintain the same high
standards of practice required of conservators in managing trust cases.
