Wilson Fiduciary Services
Managing Transitions
(805) 451-7775
What is a "Fiduciary"?
According to Black's Law Dictionary, the term "fiduciary" is defined in part as a "person having duties involving good faith, trust, special competence, and candor toward another". A fiduciary acts on behalf of and in the best interests of another person when managing money or property for that person, and is held to the highest standard of duty implied by law.
Basic fiduciary duties include the duty of loyalty, the duty to avoid conflicts of
interest, the duty to administer the governing document in accordance with its
terms and state law, the duty to deal impartially with beneficiaries, the duty to exercise reasonable care and caution, the duty to preserve and protect property, and the duty to invest assets prudently.
Wilson Fiduciary Services will serve by agreement or by court appointment in each of the following capacities:
- Independent Executor or Administrator of a probate estate;
- Trustee or Successor Trustee of a trust including revocable living trusts, irrevocable trusts, testamentary trusts, charitable trusts, life insurance trusts and special needs trusts; and
- Agent under Durable Financial Power of Attorney.