Fiduciary Services

 A Trustee is appointed to safeguard the Trust assets and to distribute Trust income and/or principal as directed in the Trust document.  If a Trustor dies without nominating a successor Trustee, the court may appoint a Trustee.  Trusts are often created to avoid probate.  We will:

• Take control of and preserve trust property
• Make certain that assets are prudently invested
• Assist the beneficiary with planning expenditures
• Distribute income
• Manage real estate, obtain loans, sell real estate, and mediate family disputes
• Distribute trust assets when the trust terminates
• Treat beneficiaries impartially while recognizing and respecting individual situations and personalities
• Mediate family disputes and/or long term grudges
• Assure that the appropriate Federal and State tax returns are timely filed
• Coordinate a team of advisors as needed
• Supervise medical care, insurance benefits and disability benefits

 Conservatorships are created by the court for adults who because of age, health or other reasons, are no longer able to manage their daily lives without assistance.  Also, individuals on their own, may determine that they want professional assistance in the management of their personal and financial affairs.  We will:

• Manage assets
• Prepare an inventory and appraisal of assets
• Supervise medical care
• Manage home care and housekeeping services
• Provide bill paying and record keeping services
• Assist in filing tax returns
• Provide property and personal care management, such as food, clothing, transportation and recreation  
• Coordinate a team of advisors as needed 

 When a person under the age of eighteen needs supervision of their person and/or estate, often because of their mental or physical challenges due to their lack of experience, the court can appoint a Guardian to meet such needs. 

 A power of attorney is a legal document that allows another individual to act on your behalf in the matters specified in the power of attorney document.  You may authorize Bob Matthews, Scott Tolstad, or both of us, to represent you in matters involving taxes, real estate, retirement plans, in other financial matters, health care matters, or any other needs you may have.  You may limit the kinds of financial decisions you want us to be able to make.  A power of attorney is safe if the person you appoint is trustworthy, honest, and competent.  Powers of attorney can be drafted to specifically match your wishes.  As your agent under a power of attorney, the following are examples of what we can do on your behalf:

• Make bank deposits, withdrawals or other transactions
• Trade stocks and bonds
• Pay bills
• Buy or sell real or personal property
• Hire people to take care of your health and household needs
• File your tax returns
• Negotiate and sign contracts
• Apply for Government benefits, such as Medi-Cal or SSI

Many, if not most, power of attorney documents include the word "durable.”  Durable means that the person acting under your power of attorney can continue to act on your behalf during periods of incompetency.

 When creating an estate plan, the attorney may have a client who does not have a family member or close friend to serve as Executor of his or her will or estate.  Heritage Fiduciary will accept nominations in wills to serve as executor.  Among other tasks, we will:

• Locate the will and other important papers: stock certificates, trust documents, and insurance policies
• Apply to appear before probate court
• Notify beneficiaries named in the will
• Send death notices to the post office, utilities, banks and credit card companies
• Prepare an inventory of belongings and have them appraised if necessary
• Check with deceased’s employer for unpaid salary, insurance, etc.
• File for Social Security, civil service or veteran’s benefits
• Open a checking account in the name of the estate to cover expenses, such as legal fees, funeral expenses, and taxes
• File state, city and federal tax returns

 Heritage Fiduciary oversees the finances for the elderly, minors and physically, emotionally, or mentally challenged individuals by:

• Directing the investment of assets
• Payment of monthly expenses and debts
• Selling real and personal property as needed
• Assisting in the timely preparation filing of State and Federal tax returns

Working with a team of professionals we can, if needed, monitor our client’s daily life to ensure his or her well-being by:

• Securing appropriate and affordable in-home care
• Overseeing personal care and health care needs
• Managing home care services
• Arranging transportation to daily activities
• Supporting spiritual beliefs
• Organizing and handle all mortuary and cemetery arrangements
• Assuring that the appropriate California and Federal Income tax returns, including the estate/gift tax return, are filled out property and filed on time