FAQ's

1. What is a Professional Fiduciary?

A fiduciary is an individual or company entrusted with the property or financial affairs of another person.

2. When is a Professional Fiduciary Needed?

When a person…

• needs assistance managing their finances does not have family or family locally to help them
• needs the aid of an expert to assist with apply for government benefits and community resources
• needs an unbiased third party to act in their best interest
• is at-risk for being taken advantage, exploited or abused
• needs help organizing and preparing their financial information
• becomes cognitively impaired due to the affects of aging or a disability
• has a disability and needs additional assistance to remain independent

3. What are the benefits of a Professional Fiduciary?

• Reduces the stress of paying bills and sorting through paperwork or mail
• Reduces the burden for caregivers and their families
• Ensures proper documentation and tracking of financial records
• Alleviates family conflicts; provides an unbiased third party
• Gives interested parties accurate financial reporting to track expenditures
• Prevents financial exploitation and abuse

4. Are you bonded and insured?  
Yes, we carry a third party employee dishonesty bond that protects our clients' assets from theft and also carry general liability insurance. Benefit Payee Services, Inc. also carries Errors and Omissions Insurance.

5. How do you charge for your services? 
We charge an hourly rate.  Our monthly fee will vary based on the amount of time spent on the client’s behalf.  Please contact our office for a quote.

6. How will I know if this service is right for me or my family member? 
We will provide 1 free initial consultation to determine if our company will fit your needs.

7. What if I don’t need your services now, but may need them in the future? 
Planning early will give you peace of mind knowing that your affairs will be handled in the event something unexpected was to happen, such as a hospitalization or medical emergency.  Call our office to schedule a free consultation.  We will assess your needs and set up a plan for the future. 

8. How would I know if my parents might need your services?

• If your parents have been to see a doctor or other health professional that has recommended that they seek assistance in managing their finances
• If your parents have expressed difficulty in remembering to pay bills on time, they may need our help.
• Perhaps, you are managing your parent’s finances and no longer want the responsibility or have the time.
• It may be that your parents can no longer sign checks because of a physical disability such as low vision or arthritis. Whatever the circumstances, we can help.