My brother has a friend in assisted living. This friend entered care with some alcoholic encephalopathy and has an appointed fiduciary managing his monies. Of late the friend has expressed a lot of concern about "how much money he has left" to live out his life. He has asked his fiduciary for an accounting of his cash and invested assets (not necessarily all his assets as he also holds objects of art), but of the monetary assets, so that he can feel more secure. The answer he received from his Fiduciary was "Oh. Don't worry. You have plenty to take care of you". This unwillingness to respond with what holdings actually exist has frightened the man, and he has no family to turn to. I have suggested starting with a more formal request (rather than a phone call as made) such as a letter. Anyone out there have any ideas what, in California, this man can "expect" to get from his fiduciary, and how should he proceed. I hate to think that the next step is a lawyer, but I wonder?
My family is one of those loco groups. Nothing they did really surprises me. The PO box is simply a measure to protect his own safety.
Send a certified, return receipt letter requesting a full accounting.
That was a WRONG answer, they are obligated to provide an accounting to their client.
Send a certified return receipt request, with a cc going to the licensing agency. I would word the letter so it actually addressed the request being blown off.
If he is able to change, encourage a legal firm that has licensed fiduciaries and has been in business a long time.
This just sucks that there are so many predatory people in this world.
These 1 man shows are dangerous imo, what happens if this guys gets mowed down crossing the street?
Let us know how it goes. Good luck!
Your state bar Association is another resource. In fact, if you are in urban area, your city bar Association is another one. Thank you for being an advocate. Very much.
The PO address is kinda a prob.