AB 3144, Professional Fiduciaries Bureau, Chaptered September 22, 2018
See here for the recent legislation that affects many of our clients.
Summary. The Professional Fiduciaries Bureau licenses and regulates professional fiduciaries. This bill extends the operation of the bureau within the Department of Consumer Affairs to January 1, 2023. It also expanded the work experience requirements to qualify for licensure as a professional fiduciary and requires a licensee to additionally include in his or her statement, filed under penalty of perjury, whether he or she has been removed for cause as an agent under a durable power of attorney for health care or as an agent under a durable power of attorney for finances.
This bill also requires the bureau to maintain in the licensee’s file, among other things, the licensee’s current principals under a durable power of attorney for healthcare or finances and whether the licensee has ever been removed for cause or resigned, as provided, as an agent under a durable power of attorney for health care or as an agent under a durable power of attorney for finances. Last, the bill prohibits a licensee, as specified, from billing a client, or imposing a fee on the estate or trust of a client, for responding to a complaint filed with the bureau against the licensee.
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