General

What exactly is a licensed fiduciary?

A licensed fiduciary is a professional who is legally authorized — and legally obligated — to act in another person's best interests. In California, professional fiduciaries are licensed by the Professional Fiduciaries Bureau, a division of the Department of Consumer Affairs.

The key word is obligated. Unlike a financial advisor or accountant who may have ethical obligations, a fiduciary has a legal duty of care. That means your interests come first — always — and our conduct is regulated and accountable.

What makes Presidio Private different from a bank trust department?

Bank trust departments are institutional. We are a boutique practice, with people in your own neighborhood. You work directly with a principal, you get personal attention, and we only take on work we can genuinely do well.

We also have no product to sell. No investments to recommend, no banking relationships to maintain. No commissions from 3rd parties. And no asset management fees tied to our Trustee services. Our only obligation is to you.

Do you work with professional advisors, or only directly with families?

Both. A significant portion of our work comes through referrals from estate attorneys, CPAs, wealth managers, and HR teams. We work comfortably alongside existing advisors and see ourselves as a resource that supports — not replaces — the professionals already in the picture.

If you are an advisor looking for a reliable fiduciary referral, we are straightforward to work with, responsive, and we do not create friction in your client relationship.

For Trustees & POAs

All I have is a shoebox of receipts and some bank statements. Is that enough to work with?

Yes — and it is not the worst starting point we have seen. Receipts, statements, brokerage confirmations, handwritten notes — it is all raw material. We have reconstructed years of trust activity from less.

We go through everything with you, figure out what exists, what is missing, and what can be pieced together. We tell you plainly what we can verify and what we cannot.

Am I already in trouble? I haven't sent beneficiaries anything in years.

Probably not, but the longer you wait, the harder it gets. Most private trustees and fiduciaries fall behind not because they did anything wrong, but because it is overwhelming to deal with complex accounting on top of all the roles of a trustee or executor, or you simply didn't have a system in place from Day 1. That is a fairly common scenario.

A well-prepared accounting that honestly reflects what happened — even imperfectly — goes a very long way. It demonstrates good faith and gives beneficiaries the transparency they are owed. We have helped trustees catch up from years of silence. It is solvable.

I never asked to be trustee or executor. I don't really know what I'm supposed to be doing.

You are not alone. Someone becomes incapacitated or passes away, your name appears in a trust document, and suddenly a well-meaning family member is legally responsible for financial administration they never trained for and family dynamics that can become complex. This is one of the most common situations we work with.

We help you understand what is actually required, get your records organized, and produce an accounting you can present with confidence. You do not need to figure this out alone.

Fiduciary Accounting

The CPA did a tax return every year. Doesn't that cover the accounting?

It does not — and this is one of the most common misunderstandings we encounter. The tax return tells the IRS how much income the trust earned. The fiduciary accounting tells the beneficiaries everything that happened — every dollar in, every dollar out, every asset still held.

The accounting answers the question beneficiaries actually ask: what happened to the money? Both documents are necessary. We coordinate with your CPA to make sure they are consistent.

A beneficiary is starting to ask questions. Should I be worried?

Questions from beneficiaries are normal — and the best response is a clear, well-organized accounting that answers them before they escalate. Most beneficiary disputes do not start with wrongdoing. They start with silence and records that look disorganized.

A credible, independent accounting — prepared by someone other than the trustee — is often the most effective thing you can do to demonstrate transparency and put the matter to rest.

Why hire a licensed fiduciary for accounting — isn't this a job for a CPA?

A CPA brings tax expertise. We bring fiduciary expertise — and for this work, the difference matters. Because we serve as trustees and administrators ourselves, we understand the decisions behind the transactions, not just the transactions themselves.

A CPA produces numbers. We produce an accounting that a licensed fiduciary is prepared to stand behind. For most matters, both are needed — and we work well alongside your existing advisors.

International Executives

My company is relocating an executive to the US. What do they actually need?

More than most relocation packages cover. Beyond housing, immigration and tax support, an executive living in the US needs a functioning financial infrastructure, possibly a US estate plan, a local point of contact who can act if something goes wrong, and someone who can coordinate across their home-country and US advisors.

We coordinate to provide all of that. Working with experienced estate attorneys and a network of State licensed local fiduciaries and guardians, we get a support structure in place that means there is backup and protection for the executive's financial welfare in an emergency.

I'm on assignment in the US and I don't have family here. What happens if I'm incapacitated?

Without a US estate plan and a designated Trustee, POA or Health Care agent, the answer is: nothing good, and nothing fast. Your home-country documents may not be recognized here. Your employer may not have the authority to act. Your family may be thousands of miles away and unable to navigate US financial, health and legal systems.

We solve this directly — establishing a US plan with legal documents provided by an attorney, appointing a local fiduciary, and ensuring there is someone experienced who is familiar with your situation and ready to act so that your family and employer are not left scrambling.

Working With Us

What does this cost, and do I have to commit before I know what I'm dealing with?

No commitment required upfront. We start with a conversation - your situation, wishes, and needs, and what is driving the timing. From there we can give you a realistic sense of scope and cost before anything is agreed.

We quote after we scope, not before. Once we have reviewed what exists, we provide a written estimate. You decide whether to proceed. No pressure, no surprises.

What technology do you use to manage my information?

We use professional legal case management software coupled with accounting software, designed for accuracy, security and transparency. This eliminates the risk of manual errors, streamlines financial reporting and provides clear documentation at every step.

All client records are stored securely in the cloud, protecting your information from risks like hardware failure, loss, or theft. Every piece of paper mail we receive is scanned directly into the system, digitized for efficiency, and then securely destroyed.

Original documents are safeguarded in a safe deposit box or a locked, access-controlled file cabinet.

Do you work remotely or only in Santa Barbara?

Both. We are based in Santa Barbara and available in person for local and Montecito-area clients and firms. For matters elsewhere in California — or for international clients — we work efficiently by remote, with secure document handling and regular communication. We have a network of trusted advisors in key countries from years of working within global advisory firms.

Geography is rarely a barrier. If you are not sure whether we can help, just reach out.