What is a professional fiduciary?

A professional fiduciary is someone such as an attorney or financial advisor, who can assist an individual with his or her bill paying, finances and legal matters. Often a professional fiduciary is brought in to help an elderly or incapacitated individual who does not have close family members, or whose family members lives in other states. A professional fiduciary is also helpful when there are difficult family dynamics such as children fighting over control of a parent’s finances or a family members exploiting an elderly relative.