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In Arizona, persons serving as fiduciaries for a fee must be licensed by the state. All fiduciaries, whether serving for a fee or not, are governed by state law. State law requires that to become licensed, fiduciaries must meet certain eligibility requirements, take initial training, pass a test, post a bond, furnish a set of fingerprints and pass a criminal background check. Licensing must be renewed every two years.
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Courage
Hourly Fees
Commitment
Patience
Integrity
Principal Licensed Fiduciary - $150
Licensed Fiduciary - $125
Licensed Professional - $115
Trust/Estate/Account/Property Administrator - $105
Guardian/Care Administrator - $95
Administrative Assistant - $85
Client Assistant - $65
Discipline
Understanding
Vision
Direction
Services
Guardian
The term Guardian has many meanings… a defender, a protector, or keeper. However, a legal guardian is a person who has the legal authority to make medical and placement decisions for another person and can only be appointed by the court. A good Guardian treats the person under guardianship with dignity, involves the person in all decision making, places the least restrictive options on the person’s freedom and rights, and maximizes the self-reliance and independence of that person. TFA is committed to these ideals and practices person-centered planning in the management of our clients under guardianship. In addition to over 20 years of experience as a legal guardian, the Principal Fiduciary of TFA also serves as Guardian for a family member who is developmentally disabled.
Often a person under guardianship may also need the protection of a conservatorship to manage the financial and property interests of that person. When someone has diminished capacity, often their assets may be wasted or dissipated. A Conservator is appointed by the court to protect those interests to ensure they are utilized for the benefit of that person. As Conservator, TFA is committed to sustainability, transparency, and accuracy in the management of our client’s estates. Our licensed fiduciaries have years of experience in general accounting principles and continuously seek educational opportunities to update their knowledge of tax law, property trends, and investment management strategies.
Trustee
Trusts can be a very effective method for managing a persons financial and property interests. Trustees are governed by state law, but may or may not be court appointed or supervised. There are many benefits to utilizing a trust; including, the avoidance of court involvement when the Trustor passes or is no longer able to serve as Trustee. Parents of children with special needs often utilize trusts to provide for their loved ones without impacting governmental benefits. The advantage of nominating a licensed fiduciary to serve as trustee of a special needs trust, is the wealth of knowledge and experience the fiduciary offers to avoid the pitfalls of navigating those governmental benefits. TFA offers over 30 years of combined fiduciary experience serving as Trustee.
Power of Attorney
Agent
The most effective estate plans include Powers of Attorney. A Health Care or Medical Power of Attorney provides authority for the Agent to make medical, placement or mental health decisions for another person either immediately upon signing, or when the person is unable to make decisions for themselves. These documents may also include advance directives or provide specific instructions regarding end of life or mental health care decisions. A Durable or General Power of Attorney provides authority for the Agent to manage financial and property interests for another person. Licensed Fiduciaries are subject to the same rules, regulations, and code of conduct when acting under a Power of Attorney. This ensures protection for the principal’s interests which may not be exercised by a non-licensed fiduciary, family member or friend.
Personal Representative
The appointment of a Personal Representative is necessary when someone with property or financial interests has passed and their assets are titled in their individual name. Even if the person executed a valid Last Will and Testament, it still may be necessary to probate that Will and have a Personal Representative appointed by the court. State law requires the personal representative to execute specific tasks that may not be known to the family or may be difficult during a time of grief or when the family lives far away. TFA has an experienced team of professionals to manage a variety of tasks; such as, cleaning up real property and preparing it for sale, obtaining valuations and collecting personal property for distribution, and marshalling financial assets for transferring or liquidating investments for the beneficiaries benefit. TFA will also alleviate the burden of distribution when there is conflict between the beneficiaries.
The Principal Fiduciary of the Families Advocate has over 20 years of court accounting experience, as well as, having served as a Probate Court Accountant for the Maricopa County Superior Court. TFA possesses a combined knowledge of both the preparation of court accounts, and also the auditing of the accounts, which promotes court accountant approval typically on the first submission. TFA can also provide accounting services throughout the year, so when the annual accounting is due, it can be prepared timely. TFA may also be contracted to review and re-submit an accounting that has failed to meet court accountant approval.
Consulting
TFA has provided quality fiduciary services to our community for over 8 years and has recruited the talents of accomplished personnel to deliver those services. Our licensed fiduciaries have over 33 years of combined fiduciary experience, including a Principal Fiduciary with 20 years as a Licensed Fiduciary and 10 years as a National Certified Guardian. A Licensed Fiduciary that is also a National Certified Guardian and serves on the Board of Directors of the Arizona Fiduciaries Association. And another Licensed Fiduciary with a Bachelor of Science in Accountancy and a master’s degree in Business Administration. Our staff also includes a Certified Paralegal and a Licensed Nursing Assistant. TFA is qualified to provide consulting services in all areas of need.
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