Frequently Asked Questions
Common questions about the advantages of hiring a fiduciary.
What are the benefits of hiring a professional?
Not only are fiduciaries held to a standard of ethics, but they take pressure off loved ones by working cross functionally with other providers to manage day to day decisions such as :
Tax Accountants
Attorneys
Assisted Living Services
Home and Health Care Providers
Relocation Services
Real Estate Agents & Brokers
This can aid in reducing conflict between family members, as well as removing common obstacles that can contribute to compromised care.
Do you only serve the elderly?
Cardinal provides services to the elderly, people with physical or cognitive disabilities, and to people with special needs. We gladly serve anyone considering assistance in managing their or their loved one’s care and well-being.
Will my loved one have any independence?
Each case is individually determined. Generally speaking, a conserved person can not operate his or her own bank accounts or make any financial transactions without prior authorization. However, care is always individualized and in some circumstances, it may be appropriate for varying levels of autonomy to be granted to the conservatee. The degree of management through the fiduciary is jointly determined at the onset of services or assigned by the courts, depending on the circumstances. Cardinal makes every effort to prioritize the preferences of the conservatee, every step of the way.
Why an Independent Fiduciary instead of a bank?
Fiduciaries offer drastically more personalized care, and they’re generally far more responsive and flexible. You don’t have to wait for review boards to convene for specific determinations as needs arise, and concerns can be addressed efficiently and often in real-time.
There are also no hidden fees when working with an independent fiduciary, whereas it can be commonplace for banks to invest in-house and through self serving partnerships. The ethics code for professional fiduciaries prevents this type of compromised care by utilizing reputable third parties tailored to the best interest of the trust.
Why the name Cardinal?
Cardinal represents a few things for our business:
The Cardinal Rule of doing unto others as we would desire for our own loved ones
The Cardinal Directions on a Compass, a symbol of offering guidance and safety for the many demands of daily life
Cardinals themselves represent loved ones we may not have the ability to be present with but remain in the forefront of our hearts and minds
At Cardinal, these qualities are the foundation of how we serve our clients.