What is the Professional Fiduciaries Bureau?
The Professional Fiduciaries Bureau is a new state agency created by legislation enacted into law in 2007 to license and regulate non-family member professional fiduciaries. As of January 1, 2009, a license is required to serve as a professional fiduciary. What does a professional fiduciary do? A professional fiduciary manages a client’s personal affairs relating to daily care, housing, and medical needs and also manages personal finances as needed. Who needs a professional fiduciary? A consumer with a mental or physical impairment in need of care: • Who wants to avoid burdening friends and family. • Whose friends and family lack appropriate skills. • Who doesn’t have a friend or family member to assist or to trust. • Who may face conflicts between siblings or other relatives. Who is a professional fiduciary? A professional fiduciary is a conservator or guardian for two or more persons at the same time who are not related to the fiduciary or to each other. A professional fiduciary is a
