Licensed Professional Fiduciaries (LPFs) offer a range of services to individuals who may need assistance in managing their financial and personal affairs. Here are some common services provided by LPFs:
Asset Management: LPFs manage and oversee their clients' financial assets, making investment decisions, monitoring portfolios, and ensuring that financial resources are utilized wisely.
Estate Planning: Estate planning attorneys assist clients in developing and creating estate plans so that your final wishes will be properly written. This involves creating wills, trusts, and other legal documents to facilitate the orderly distribution of assets and minimize potential tax implications.
Trust Administration: LPFs administer trusts on behalf of their clients. They ensure that trust assets are managed and distributed according to the terms outlined in the trust agreement.
Conservatorship/Guardianship: LPFs may be appointed by the court as conservators or guardians for individuals who are unable to manage their personal and financial affairs. In this role, LPFs make decisions to protect and support their clients.
Financial Planning: LPFs engage in financial planning to help clients achieve their long-term financial goals. This may include budgeting, retirement planning, and strategies for wealth preservation.
Risk Management: LPFs assess and manage financial risks on behalf of their clients. This involves making informed decisions to protect assets and mitigate potential risks.
Record-Keeping and Reporting: LPFs maintain detailed records of financial transactions, investments, and other relevant information. They provide regular reports to clients and, if necessary, to the court.
Beneficiary Advocacy: LPFs act as advocates for beneficiaries, ensuring that their rights and interests are protected. This may involve addressing disputes and facilitating communication among family members.
Special Needs Trust Management: LPFs may specialize in managing trusts designed to provide for individuals with special needs. This involves ensuring that the financial needs of the individual are met while preserving eligibility for government benefits.
Coordination of Professional Services: LPFs often collaborate with other professionals, such as attorneys, accountants, and healthcare providers, to provide comprehensive care for their clients. This interdisciplinary approach addresses various aspects of a client's life.
Compliance with Laws and Regulations: LPFs stay informed about and adhere to relevant laws and regulations governing fiduciary responsibilities. This includes ethical standards and legal requirements in managing client affairs.
LPFs tailor their services to the specific needs of each client, providing personalized and comprehensive support in managing financial and personal matters.
Diablo Valley Fiduciary Services, Inc.
Fiduciary Fee Schedule - Effective: January 1, 2025
1. Fixed fee matters such as Trust or estate administration will be charged a fixed fee percentage of the aggregate estate or trust value with respect to the total assets under supervision based upon the following schedule:
1% of Gross Value $1,000,000 to $5,000,000
.75% of Gross Value $5,000,000 to $10,000,000
.50% of Gross Value $10,000,000 to $15,000,000
.25% of Gross Value $15,000,000 and above
2. Fiduciary will charge a minimum monthly fee of $650 for managing estates with assets under $1,000,000 or other matters pursuant to flat fee engagements.
3. Contract or Consulting Work - Hourly services are the following rates:
Professional Fiduciary Consulting Services: Standard Rate: $275 per hour (including, but not limited to, consulting, advice, contract work for special projects, document preparation or unsupervised court casework)
Professional Fiduciary Services: After Business Hours/Weekend Rate: $350 per hour (work requested after 5:00 p.m.)
4. Court Supervised Matters: Hearings, Case work, Trial preparation, Depositions: $195 per hour.
Project and Accounting: $195 per hour
Bookkeeping: $100 per hour
Clerical: $75 per hour
5. For Decedent’s estate or Probate matters, California Probate Code sets forth a statutory fee schedule for the computation of compensation payable to estate representatives and to attorneys in connection with “ordinary services” rendered during estate administration. That current fee schedule, based on the gross value of the estate probated, is as follows:
4% of the first $100,000 or fraction thereof.
3% on the next $100,000 or fraction thereof.
2% on the next $800,000 or fraction thereof.
1% on the next $9,000,000.
½% on the next $15,000,000 and
“Reasonable” fee on the excess over $25,000,000.
**Fiduciary reserves the right to charge extraordinary fees in relation to more high-level complex trusts and estates. The fees may exceed the above rates.
6. Please note that that we will reserve the right to obtain the professional opinions and services of attorneys, accountants, appraisers or other estate professionals and these costs shall be paid directly by the Trust, Conservatorship, Estate, or Client. It is noted that these fees, court costs and other estate related expenses are not part of the fiduciary’s compensation.
7. Fees are invoiced monthly or periodically and shall be paid from client funds. Fees paid from decedent estates or Conservatorship funds are pursuant to Probate Code Section 2643, those periodic payments will instead be collected.