Carlena Tapella, of Weintraub Tobin LLP, has made available for
download her article, “Governor Gavin Newsom Signs Sweeping Conservatorship Reform Bill,” published in JDSUPRA. The article begins as follows:
On September 30, 2021, Governor Gavin Newsom signed California AB 1194 amending numerous statutes pertaining to conservatorships. The following are highlights:
Internet Posting of Fees of Licensed Professional Fiduciary: On or before January 1, 2023, an individual licensed as a professional fiduciary (LPF) by the State of California, and who has an internet website, is required to post on their website a schedule or range of the LPF’s fees, including, but not limited to, the LPF’s hourly rate for services rendered.
If the LPF does not have an internet website, the LPF is required to provide a prospective client, before the execution of a contract for services, a schedule or range of the LPF’s fees, including, but not limited to, hourly fees, for services offered. The same information is also required to be provided to a current client, upon that client’s request. If the prospective or current client is a proposed or current conservatee, then, in addition to the client, the LPF is required to provide the information to the proposed or current conservatee’s spouse and all relatives within the second degree.
Posted by Bennett Mansour, Associate Editor, Wealth Strategies Journal.