Fiduciary ethics require that a fiduciary plan for their own incapacity, death, or retirement to provide for their clients’ “continuity of care.” However, the courts and the legislature have failed legal options or guidance for fiduciaries to create such plans or to use business organizations available to other professions. This course will examine current laws and typical succession plans, evaluating whether they comply with current law and fulfill the duty of continuous care. Several business structures which are available will be explained, as will language that should be considered in every trust, retainer letter, or court appointment of a licensed professional fiduciary. This is one of the most hotly debated topics in fiduciary practice. Be ready for a lively discussion!
Business Succession Update: How Does a Fiduciary Provide for “Continuity of Care”?
Frank R. Acuña, Esq.
Frank R. Acuña is a founding partner of ACUÑA * REGLI. He is a California State Bar certified estate planning, trust, and probate law specialist. His practice includes estate planning; inheritance litigation; business succession planning; special needs trusts; and farm, ranch, and vineyard succession planning. Mr. Acuña has taught tax seminars for the National Tax Practice Institute, the California Society of Enrolled Agents, the California Society of Tax Professionals, the National Association of Enrolled Agents, and the American Institute of Certified Public Accountants. Mr. Acuña also is a featured speakers for the Professional Fiduciary Association of California, the National Guardianship Association, and the California Public Administrators, Public Conservators, and Public Guardians. He advises tax, fiduciary, and investment professionals throughout the State of California.