Fiduciary Services - loomer law

Trusted Fiduciary Services for Your Financial Future

Unlock Your Future:

Laurel Loomer is a highly experienced professional fiduciary in California, specializing in acting as a conservator of the person and estate, trustee, and executor. With a background in law and a deep understanding of fiduciary responsibilities, Laurel is dedicated to providing compassionate, ethical, and reliable services to her clients. Her expertise in managing complex financial and personal matters ensures that the needs and best interests of those she serves are always prioritized. Whether handling estate planning, trust administration, or conservatorship duties, Laurel brings a thorough, detail-oriented approach to her work, making her a trusted partner for families and individuals across the state.

Our Approach

Why Choose a Fiduciary to Manage Your Estate?

Managing an estate is a big job that requires time, expertise, and careful attention to detail. While it may seem easy to ask a family member or friend to help, choosing a professional fiduciary is often the best decision. Here’s why.

What Is Fiduciary Responsibility?

A fiduciary is a professional who is legally and ethically required to act in your best interest. This means they must:

Put Your Interests First: A fiduciary prioritizes what’s best for the estate and its beneficiaries.
Provide Expert Care: They use their knowledge and skills to manage the estate effectively.
Be Transparent: Fiduciaries keep clear records and regularly update beneficiaries, ensuring everything is handled correctly.

How a Fiduciary Acts in Your Best Interest

A fiduciary’s main job is to protect and manage your estate according to your wishes. Here’s how they do it:

Professional Management: Fiduciaries are experts in handling complex tasks like investments, property management, and taxes.
Objective Decisions: Unlike family members or friends, fiduciaries make unbiased decisions based solely on what’s best for the estate.
Legal Compliance: Fiduciaries follow all legal rules, reducing the chance of mistakes that could harm the estate.

Benefits of Choosing a Fiduciary Over a Family Member or Friend

While it may seem more straightforward to choose a family member or friend, a fiduciary offers several advantages:

Expertise

Fiduciaries have the training and experience to manage estates efficiently.

Time

Managing an estate is time-consuming. A fiduciary is fully dedicated to the role and ensures everything is done right.

Avoiding Conflict

Estate management can cause tension among family members. A fiduciary’s neutral role helps prevent disputes.

Minimizing Risk

Fiduciaries know how to manage risks and protect the estate from mismanagement or fraud

Choosing a fiduciary to manage your estate ensures that a knowledgeable, unbiased professional handles everything carefully. While a family member or friend may mean well, they might not have the skills or time needed for this vital job. A fiduciary’s commitment to acting in your best interest means your estate is in good hands, providing peace of mind for you and your loved ones.

Our Professional Services

We offer professional services, including trustee, conservator of the estate, and executor roles. When family members cannot fulfill these responsibilities, we serve as a trustworthy alternative.

Protecting Estate Beneficiaries

We are committed to safeguarding the interests of estate beneficiaries, ensuring that assets are protected from abuse, fraud, and loss. Our services include:

Property Management: We manage rental properties within the estate, adhering to local, state, and federal landlord-tenant laws. We aim to maximize income while preventing waste and preserving the estate’s value.
Property Sale: We oversee the process when selling estate property is necessary. Decisions regarding sales are made based on the estate’s needs, the trust document, and the beneficiaries’ interests. In conservatorships, we include the conservatee in decision-making. In trust administration, we keep beneficiaries informed throughout the process.
Bill Payment: We ensure all estate bills are paid promptly, maintaining detailed records accessible to the court and beneficiaries as needed.
Budgeting: By assessing the estate’s liabilities and assets, we create a plan to ensure its financial health over the short, medium, and long term.
Accounting and Bookkeeping: We maintain precise accounting and bookkeeping records. In conservatorships, annual accountings are filed with the court. For trusts, accountings are provided as specified in the trust terms.
Appraisals and Inventories: In conservatorships, we prepare and file appraisals and inventories with the court within 90 days of appointment.
Prudent Investment: We follow the Prudent Investor Rule, aiming to grow estate assets while diversifying to minimize risk.
Asset Disbursement: We distribute assets to beneficiaries strictly according to the will or trust instructions.
Winding Up of Trust: Once all assets have been disbursed, we ensure that all required court documents are filed to close the estate.
Management of Special Needs Trusts: We manage long-term Special Needs Trusts to protect beneficiaries from losing government aid.
Procuring External Services: When needed, we carefully select and supervise qualified and trustworthy professionals, such as tax and accounting experts, to provide services for the estate.
Insurance: We ensure all necessary insurance is in place to protect estate assets.
Taxes: We ensure estate taxes are filed and paid on time.

Our comprehensive services are designed to manage estates with integrity, ensuring that every aspect is handled with the highest care and professionalism.

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Credentials and Experience:

Laurel Loomer, Esq.

Licensed attorney in California since 2012, specializing in estate planning, bankruptcy, and business law.
Holds a Professional Fiduciary Management for Trustees Certificate from California State University, Fullerton.
Licensed Professional Fiduciary with the State of California.
Certified National Guardian by the Center for Guardianship Certification.
Extensive experience working with the elderly and special needs population as a Dental Hygienist in Alternative Practice since 2007.
Active member of the State Bar of California, Trusts and Estates Section.

Fiduciary Services Fee Range Schedule

Trustee Fees

Professional Fiduciary hourly rate ranges: $170.00 – $275.00 per hour.

Support Staff hourly rate: $170.00 per hour

*For high-balance trusts, fees based on 1% of assets, rather than hourly rates, are an option at the client’s discretion.

Agent Under Power of Attorney/Healthcare Directive Agent, Guardianship/Conservatorship of the Person or Estate Fees (Guardian/Conservator fees are subject to court approval):

Professional Fiduciary hourly rate ranges from $170.00 – $275.00 per hour

The Support Staff hourly rate is $170.00 per hour

Probate Administration Fees

Fees payable to the Professional Fiduciary as the Personal Representative for customary services are authorized under Probate Code §10800 and, according to Probate Code §10800, are computed on a fee base comprised of gross assets, plus receipts and gains, less losses, as follows:

4% of the first $100,000
3% of the next $100,000
2% of the next $800,000
1% of the next $9,000,000
0.5% of the next $15,000,000
Court discretion after $25,000,000

Extraordinary Fees

In addition to statutory fees, according to Probate Code §10801, extraordinary fees can be requested for services such as, but not limited to, tax issues, real property sales, and litigation. Extraordinary fees are subject to court approval; extraordinary services are charged at the following hourly rates:

Professional Fiduciary hourly rate ranges from $200.00- $285.00 per hour

The Support Staff hourly rate is $180.00 per hour

Fee Schedule updated: November 26, 2024