Probate Fiduciary Services
Estate & Trust Administration
Power of Attorney
Conservatorship / Guardianship
Trust Property Management
Business & Intellectual Property
Frequently Asked Questions
Are Fees Regulated?
Who Needs a Fiduciary?
What is blended billing and do you offer it?
Blended billing is a method where a single fiduciary may attempt to provide pricing levels to offer flexibility in the services that he offers, much like you would find in an office with several staff members. Unfortunately it appears to be the norm that the fiduciary increases his rate and then puts the core services at a rate equivalent to that of a flat-rate fiduciary. For example, a trustee (fiduciary) may charge a rate of $225/hr for his services, $195/hr for an associate to attend to other tasks under the supervision of the trustee, $125/hr for administrative tasks, and $100/hr to schedule appointments or answer calls. If 50% of all tasks are administrative, 40% at associate, and 10% at trustee then your weighted rate is $163/hr.
Konsulati does not offer blended billing. Our method of automation reduces the time needed to perform a task. The difference is in the experience to complete a task efficiently. Thus, with our fixed hourly rate you’ll pay less compared to a blended billing model.
In what specific roles do fiduciaries serve?
Who monitors fiduciaries?
How do you select a qualified fiduciary?
What are the educational requirement to become a fiduciary?
Now one must hold a baccalaureate as a minimum to consider a new career as a fiduciary. The exceptions are with experience: an associates and three years of experience, or no degree and five years of experience. Note that experience is not one client but three or more unrelated persons.
To promote continued growth and understanding of legislative changes, every fiduciary must complete 15 units of continuing education units (CEUs) per year, with three (3) units of ethics related material.
What does an estate trustee do?
An estate trustee has the responsibility of carrying out the terms of the trust estate as set forth in an estate or trust document. A trust (estate) can be created by the language found in a will or a document created during life. If the former, it is a testamentary trust; if the latter, it is a living trust. The trustee is usually a person named by the creator of the trust in the trust document. In some cases, the trustee cannot carry out his or her duties either because of incapacity or death. If there is no named successor trustee who can serve, the court has the responsibility of appointing a successor estate trustee, usually someone who is nominated by the trust beneficiary(s), or by petition by an independent.
Estate trustee duties can include funding the trust with appropriate assets, safeguarding assets, investing the trust assets according to the Prudent Investor Rule (as set forth in the Probate Code), reporting to beneficiaries (as set forth in the Probate Code) filing income tax returns for the trust and making distributions in accordance with the trust terms.