As the CEO and founder of Decades, LLC, an elder care service provider in New Mexico, Nancy Oriola and her team provide personalized financial plans for older individuals and their families. Leveraging over three decades of experience in comprehensive senior care, Nancy Oriola may oversee the management of her clients’ personal financial affairs as an appointed professional fiduciary.

There are a number of reasons why a fiduciary may be appointed. Elderly people who are unable to manage their own financial matters may not be able to pass this responsibility on to their family members due to distance or strained relationships. In these cases a professional fiduciary may be given power of attorney over a senior’s financial decisions. Professional fiduciaries often have backgrounds in law, financial planning, or accounting.

Ideally, a relationship with a trusted professional would be initiated by the individual before he/she becomes incapacitated. However, family members can also appoint objective fiduciaries to avoid potential conflicts within the family. Once awarded authority, a fiduciary is responsible for a number of activities, including paying bills on the client’s behalf and overseeing the execution of his/her will. Since they exert a considerable amount of control over a client’s finances, it is crucial that family members and fiduciaries have a relationship built upon trust and respect.