Being named a successor trustee as a Professional Fiduciary is a seriously responsible job. What made me think of this is I work with Professional Fiduciaries. They represent people who need representation as they don’t have a family member or a friend they trust enough to take the job. Often, they have no family.
A Professional Fiduciary gets paid, of course. They go to doctors’ appointments, hospital stays, pick up prescriptions. They even purchase memory foam mattresses to keep their clients more comfortable. It is not inexpensive to have professional care, but it is a lot less than going into a care facility. Professional Fiduciary cases often prolong independent living in most cases.
I became a Successor Trustee for a few friends. Some years ago, I sold a home in the active adult community of Del Webb in Elk Grove to a couple I met from Las Vegas. Rosanna and Rich later became my dear friends. Sadly, Rich died of a debilitating disease a few years ago. It has been a really a sad time for Rosanna. He was the love of her life. They had met in California and moved to Hawaii, sold real estate together on the Big Island. Later they moved to Maui, bought a business and did very well.