Why You May Want to Consider Partnering with a Private, Professional Fiduciary
In this episode, I interview Sara Ecklein, a private, professional fiduciary. In addition, Sara is the founder of Trust and Honor, a fiduciary agency. Trust and Honor serves as a partner and compassionate advocate in managing and protecting the personal affairs, property, and assets of clients in the San Francisco Bay area and beyond.
I was particularly interested in talking with Sara because I work with many single women who may not have a family member or friend who could take on this role for them when needed.
Sara’s calling to become a fiduciary and found Trust and Honor was informed by personal experience with loss and end of life care. She has been working in the fiduciary profession since 2014 and has a rich and varied background in issues facing senior and disabled populations, including end of life care, financial abuse, and navigating challenging support systems and family dynamics.
Sara holds a Bachelor of Arts degree in Political, Legal, and Economic Analysis from Mills College. She is also, in addition to being a licensed Professional Fiduciary, a Certified National Guardian and a general member of the Professional Fiduciary Association of California.
In this episode, Sara and I discuss the role of a private fiduciary and the journey that led Sara to her position as founder of Trust and Honor. We also talk about who can specifically benefit from partnering with a private, professional fiduciary and why and when someone may seek her services.
For example, some of Sara’s fiduciary services include:
- Being a trustee guardian and/or an estate executor
- Daily bill paying and money management
- Healthcare representation agent
- Power of attorney or executor for seniors with no spouse or family
- Conservator for those who are mentally or physically incapacitated
Meanwhile, Sara and I get into the specifics of special needs trusts, their complexities, and common mistakes that non-professionals make when administering these trusts. In addition, we talk about long-term care insurance and how it can play into end-of-life planning. And at the end we talk about Sara and some of her amazing personal accomplishments.
I really enjoyed this conversation, and I think it’s especially important for independent women to better understand what someone like Sara does and how partnering with a private fiduciary may be beneficial. With that, I hope you enjoy this episode of Financial Finesse.
[03:45] Sara Ecklein describes the role of a private, professional fiduciary.
[09:28] Sara shares why and when someone may seek her services as a private fiduciary and what her intake process looks like.
[25:26] How working with a private, professional fiduciary can benefit clients when it comes their healthcare.
[39:20] Sara Ecklein and Cathy discuss special needs trusts and why it can be helpful to have a trustee who specializes in this area.