Frequently Asked Questions

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The Care Plan™ is a comprehensive document provided by Mission Bell Fiduciary at the outset of our engagement. It is designed to assess the client’s current financial and health situation and create a detailed plan for their future care and financial management. 

Who is involved in creating the Care Plan? Our team, including an attorney, CPA, financial advisor, and the client’s medical professional, collaborates to assess the client’s situation and develop the Care Plan.

What does the Care Plan include? 

The Care Plan includes:

• An assessment of the client’s current financial and health condition.
• A comprehensive budget tailored to the client’s needs.
• Recommendations for the least restrictive living environment suitable for the client now and in the future.
• Factors that might necessitate moving the client to a more manageable living environment.
• A schedule for regular fiduciary reviews of the client’s finances.
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What is the Continuing Care Plan? 

Should we take on the role, we will provide a Continuing Care Plan on a monthly basis or intermittently as needed. This document serves as a mini care plan or updates to the original Care Plan, reflecting any changes in the client’s circumstances.

How does the Care Plan benefit the client and their family?

 The Care Plan provides peace of mind by ensuring that all aspects of the client’s care and financial management are thoroughly planned and monitored. It creates a clear roadmap for the future, helping to manage expectations and prepare for potential changes in the client’s needs.

How often is the Care Plan reviewed?

The Care Plan includes a schedule for regular fiduciary reviews of the client’s finances to ensure that the plan remains up-to-date and responsive to any changes in the client’s situation.

Why should I choose Mission Bell Fiduciary for the Care Plan?

 Mission Bell Fiduciary is committed to providing personalized fiduciary services that cater to the unique needs of each client. Our comprehensive approach, involving a team of experts, ensures that the Care Plan is thorough and tailored to provide the best possible care and financial management for aging seniors.

Settling complex estates, including those with businesses or real estate, involves a great deal of time and skill. A qualified professional fiduciary ensures that all duties are carried out carefully and prudently, providing peace of mind to all involved.

What happens if a person dies without a Will? 

If a person dies without a Will, they are said to have died intestate. In such cases, the probate court will appoint an Administrator to manage and settle the decedent’s estate.

Who can be appointed as the Administrator? If a relative is unavailable to act as the Executor of the Will or the Administrator, the court may appoint a California licensed professional fiduciary to act as the estate representative.

What are the duties of an estate representative? 

The estate representative has many duties, including:

• Adhering to the provisions of the probate code.
• Delegating tasks to various agents, such as attorneys and accountants, when necessary.
• Managing the decedent’s business to ensure it runs efficiently until distributions are made or it is sold.
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What happens if the estate representative fails to manage agents properly? 

Failure to competently select and manage agents could subject the estate representative to personal liability.

A Power of Attorney is a legal document that allows you to give another person the authority to act on your behalf, even if you become incapacitated and can no longer speak for yourself.

How can Mission Bell Fiduciary assist with a Power of Attorney?

Mission Bell Fiduciary can act on your behalf temporarily or on a long-term basis in various capacities, including:

• Financial Management: Authorizing most aspects of financial management on your behalf.
• Banking Transactions: Managing all banking transactions, including check writing and accessing safety deposit boxes.
• Property Transactions: Buying and selling property.
• Litigation Management: Handling legal disputes and litigation.
• Property Management: Managing properties on a short-term basis.
• Insurance: Purchasing insurance policies.
• Contract Negotiation: Negotiating contracts on your behalf.
• Authorized Signatory: Acting as an authorized signatory.
• Government Benefits: Managing government benefits.
• Tax Filing: Filing tax returns.
• Professional Hiring: Hiring professionals to assist with responsibilities.
• Medical Decisions: Following your wishes for medical decisions and communicating with family about these decisions.
• Successor Agent: Acting as a successor agent under a power of attorney.

Why should I choose Mission Bell Fiduciary for Power of Attorney services?

Mission Bell Fiduciary offers comprehensive and personalized fiduciary services, ensuring your financial and personal well-being are managed with the utmost care and precision. Our expertise in legal and financial matters allows us to navigate complex situations effectively, providing peace of mind for you and your loved ones.

This FAQ section is designed to be clear, informative, and SEO-friendly, helping potential clients understand the services you offer and the benefits of choosing Mission Bell Fiduciary. If you need any further adjustments, feel free to let me know!

 As Professional Trustees, we ensure that the terms of the trust are followed, protect trust assets, and act in the best interests of the trust beneficiaries. Our services include managing trust estates, providing unbundled services to family trustees, filing tax returns, and preparing accountings.

What types of trusts does your firm accept trustee appointments for?

• Revocable Trust (Living Trust):
  
  • Created during the lifetime of the trustor and can be altered, changed, modified, or revoked entirely.
  • The trustor transfers the title of a property to the trust, serves as the initial trustee, and can remove the property from the trust during their lifetime.
  • Typically evolves into an irrevocable trust upon the death of the trustor.

• Irrevocable Trust:
  
  • Cannot be altered, changed, modified, or revoked after its creation.
  • Once a property is transferred to an irrevocable trust, it cannot be removed by anyone, including the trustor.
  • A revocable trust can become irrevocable if the trust rules specify conditions, such as the incapacity of the trustor.

• Special Needs Trust:
  
  • Created for a person receiving government benefits to avoid disqualification from such benefits.
  • The disabled beneficiary cannot control the amount or frequency of trust distributions and cannot revoke the trust.
  • Protects the beneficiary’s eligibility for government benefits by transferring the estate into a special needs trust at the time of the trustor’s death.

What consulting services do you offer?

• Agent for Trustee or Conservator:
  
  • We act as an agent for trustees or conservators in matters requiring a local representative or expertise beyond their personal experience, whether court-appointed or not.
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• Consultant for Family Members, Friends, or Other Non-Professionals:
  
  • We provide consultation services related to financial matters, estate planning, care decisions, and associated costs for senior family members or other individuals.
  • This service assists family members, friends, or other non-professionals in navigating complex areas.

To schedule a consultation with Mission Bell Fiduciary, simply fill out the contact form on our website or give us a call. We will get back to you as soon as possible to schedule a time that works for you.

At Mission Bell Fiduciary, we pride ourselves on our personalized approach to consulting. We work closely with each client to understand their unique needs and develop customized solutions that deliver measurable results.