510.918.3734 mark@marksunger.com

Experienced. Knowledgeable. Trusted.

Experienced.

Knowledgeable.

Trusted.

Services

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Trustee

Special Needs Trust Trustee

Executor

Special Administrator

Conservator of the Estate

Guardian of the Estate

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Power of Attorney

Works with families engaged in conflict

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Personal Service and Consulting

Trustee


Special Needs Trustee


Executor


Special Administrator


Conservator of the Estate


Guardian of the Estate


Power of Attorney


Works with Families Engaged in Conflict


Personal Service and Consulting

Mark S. Unger

During an almost 40 year professional life, Mark has gained experience and expertise as a lawyer, real estate executive and business executive that provide the perfect background for his undertaking of the private professional fiduciary role.

FAQ

What is a private fiduciary?

A private/professional fiduciary is someone who acts as trustee, administrator, executor, guardian/conservator, or has a power of attorney (POA). In most cases, those roles are filled by a family member, friend or confidant of the person that created the instrument. In many instances, however, that appointment fails for any number of reasons …. Inability to reach a decision, dissension among family members incompetence, geographical distance. The private fiduciary is substituted in those scenarios and brings an expertise to managing the assets and best address the interests of both the settlor/principal and, when appropriate, other family members.

Why would we retain a private fiduciary?

There may be one or more reasons. Perhaps the trust calls for a certain expertise that the named trustees do not have, e.g., securities, real estate or an ongoing business. Frequently, family member trustees are not able to make consensus decisions so a private fiduciary is required to step in and replace them. If a named trustee lives in another part of the county or world, a private fiduciary is likely necessary to mange the local assets of the trust. More often, in today’s world, trustors appoint private fiduciaries in the instrument rather than family members in order to avoid family in-fighting, thus preserving the existing family harmony.

Why choose a private fiduciary over a corporate/bank trustee?

The private fiduciary will most likely provide far more personalized service than a corporate/bank trustee. You will have only one point of contact for all your questions surrounding the trust and you will have the ability to communicate in a direct and timely fashion with the private fiduciary. A fiduciary should provide you with all of their contact information, including cell phone, so that you can reach out to them at any reasonable time.

What should we be looking for in a private fiduciary?

Trust is paramount. As trustee, the private fiduciary controls trust  assets and is instrumental in both the management of those asets and in addressing the needs of the beneficiaries.The private fiduciary should have the appropriate educational and business background to assume that responsibility. Additionally and as importantly, you want to ensure that the private fiduciary makes a communication a priority. Quarterly, semi-annual and/or annual reporting is great, but you should be able to reach out to and hear back from the private fiduciary at any reasonable time you request. Timely, effective and fully transparent communication will eliminate most of the stumbling blocks that might otherwise arise.

What are the advantages in retaining a private fiduciary?

Depending upon your situation, there may be any number of advantages. The private fiduciary should be easy to reach and communicate with. Your call should be returned that day or the next. You and your assets will be of primary importance to the private fiduciary. Unlike a corporate/bank trustee, your trust will not be one of hundreds that the private fiduciary is managing. You will have one point of contact and not three, four or five under a corporate/bank trustee arrangement. Assuming you do your homework and select a private fiduciary with the appropriate educational and business background, you are likely to receive a higher degree of care and success with your trust assets.

Reach Me

3640 Mt. Diablo Blvd.
Suite 202
Lafayette, CA 94549