E268 Professional Executor and Trustee for California Solo Agers

To my surprise, we keep getting calls from Solo Agers in California asking me to serve as their executor and trustee. Let’s explain why this is surprising.

California is a leader of professional executors and trustees

I thought that California has a robust and developed industry of professional executors. For instance, California has a state licensing agency: Professional Fiduciaries Bureau. You have to apply to receive a license to be an in-state professional fiduciary. There are also trade groups like the Professional Fiduciary Association of California.

There is a whole infrastructure for personal executors in California that you don’t see in other states. This led me to believe that there is an abundance of professional fiduciaries in California.

Yet, solo agers can’t find professional executors in California

While Californians are able to find professional executors, it is hard to find a professional executor that is focused on Solo Ager issues. So, these Solo Agers feel like they’re put into a cookie-cutter plan. For example, some Solo Agers are being told to just leave everything to their kids – even when they are estranged, or they don’t have kids!

Yes, I can be executor outside of NY, including California

For the above reason alone, I want you to know that even though I am based in New York, I can be a professional executor for someone outside of New York, including California.

Just keep in mind that there are some drawbacks when you choose an out-of-state executor. There may be travel costs and slightly less familiarity with local customs. The trade-off is that you’ll have a professional that you are comfortable with. A professional executor is well-versed in administering an estate generally, even if not specific to a certain location’s customs.

Whether you live here or across the country: If you are looking for a professional fiduciary to focus on your Solo Ager issues, it would be my honor to help you.

If you want learn how probate works for Solo Agers, check out the link to my free book, “The Solo Ager Estate Plan.”