What is a Fiduciary?
A fiduciary is an individual, licensed by the Arizona Supreme Court, who serves by Court Appointment in several capacities, on behalf of an individual who cannot execute those duties themselves. The fiduciary essentially acts as a ‘stand-in' for an incapacitated person, acting solely for the benefit of that person.
A fiduciary can serve by court-appointment as guardian of a protected person, conservator of a protected person's finances, and personal representative or executor of an estate. A fiduciary may also serve, by agreement of interested parties, as trustee, agents under powers of attorney, or as representative payee for structured income plans.
A licensed fiduciary, serving in private practice as we do, does so for a fee. The fees collected by a fiduciary are submitted on an annual basis to the Arizona Supreme Court for review and must be approved.
A fiduciary is accountable to the Court for all decisions made on behalf of a protected person. Any action taken on behalf of a ward must benefit the ward, while maintaining the highest degree of autonomy possible. We are required to secure a bond and our license to operate must be maintained in good-standing. Ultimately, the fiduciary relationship is one of trust and the well-being of the protected person or entity is our principal focus.