personal representative

 

When a person dies with assets or property, that estate will be used for paying debts and distributing to heirs.  A Personal Representative, or Administrator, is typically named either in a will to carry out that distribution.  Sometimes the person named in a will is unable or unwilling to perform and another person will be named by the court to step in.  When the estate is complicated or when it is best to have an independent person administer it, a professional may be warranted. 


We serve clients in Clark County, Washington.  Typically, we serve in cases in which services are needed immediately or within the next several years.  If your need is not until sometime beyond that, there's a good chance we are not the right fit. 

CONSERVATOR

 

As in a guardianship, a professional conservator may be needed as an alternative to a family member for a number of reasons.  A conservatorship is established by the court if the court finds that a person is unable to manage property or financial affairs, they are at risk of financial harm or significant wasting of their property, or if they are unable to obtain or provide funds or other property needed for their support, care, education, health, or welfare (or for someone who has a right to their support). In a conservatorship, the individual will have certain rights revoked and instead will exercise those rights through the conservator.  


attorney-in-fact

 

Often this is referred to as "being a POA".  A Power of Attorney, or "POA" refers to the actual authority given to an agent by a person ("grantor") through a document that details the authority and responsibility.  Typically, a POA is given so that the agent, or "attorney-in-fact", can act on behalf of the grantor should the grantor become incapacitated or otherwise request the agent to act. The agent always has a fiduciary duty to the grantor, so the agent is not to use the authority to benefit themself or anyone else other than the grantor.  A POA can only be granted by a person who has the capacity to understand what they are putting in place, it can be revoked, or the agent replaced, by the grantor as long as the grantor has capacity. 


Swanson Fiduciary Services often serves as Attorney-in-Fact in conjunction with other services, but does not often serve only as the Attorney-in-Fact.  


Too often our older population suffers financial abuse through someone who uses false information or false identity to make it happen.  Elder fraud, or elder financial abuse, is generally thought of as scams perpetrated by strangers who gain the victim's trust through phone calls, emails, online interactions.  It also occurs, though, when family members or caregivers take advantage of the vulnerable person who already trusts them.  Those trusted individuals may be able to get the vulnerable victim to write checks or hand cash to them, provide them direct access to their debit and credit cards, or even sign over the titles to vehicles to them.

trustee

 

Assets can be placed in a trust to avoid taxes, for estate planning, or to provide financial support for a disabled person without jeopardizing other benefits they may be able to receive (such as government benefits).  When a trust is created, a trustee is identified to carry out the terms of the trust, such as paying bills and providing periodic accountings.  Sometimes an individual under guardianship or conservatorship is also the beneficiary of a trust and it makes sense to have the same fiduciary serve as trustee.  Or, a professional trustee may be the right option for reasons similar to those described for guardians and conservators.

guardian

 

A professional guardian may be needed when there is no available or qualified family member to serve, or when it is best for the family to separate personal relationships from the responsibilities of guardianship.  A guardianship is established by the court if the court finds that a person lacks the ability to meet essential requirements for physical health, safety, or self-care, they are at significant risk of harm in those areas, and their needs cannot be met with a less restrictive alternative.  In a guardianship, the individual will have certain rights revoked and instead will exercise those rights through the guardian.  


Examples include:

  • The trustee or personal representative named in the documents declines to serve. 
  • A current fiduciary is unable or unwilling to continue.  This may be due to health reasons or the complexities of the case being beyond what they feel they can handle.
  • A family member or friend is trying to serve but other family or interested parties are questioning how they are going about it.
  • Concerns are being raised that an elderly or disabled person is being financially abused by others and an independent professional is needed.  


If you are not sure about fit, contact us and let's talk through it.  If you know you need to find a different solution, our resources page may help you.  

Often Swanson Fiduciary Services is appointed when something has happened (or not happened) that is creating a problem or just not right.  

the right fit?

services

elder fraud examiner

Gregg is a Certified Fraud Examiner who can investigate these situations fairly, put a stop to abuse, and help bring justice for the victim.