A licensee shall keep complete and accurate client records, and shall make those records available for audit or review by the bureau upon request.
Professional FiduciariesPractice Provisions
Section § 6560
If you hold a professional license in this field, you must maintain detailed and accurate records of your clients' information. These records need to be readily accessible so they can be reviewed or audited by the relevant authority if asked.
licensee client records accurate records
Section § 6561
If you have a license regulated by this bureau, you're required to file a detailed statement once a year and when you first get licensed. This filing, which you do under penalty of perjury, needs to include information like your contact details, any roles you've held as a fiduciary (like being a guardian or trustee), and if you’ve been removed from such roles. You also need to disclose any current and past cases you’ve worked on, if you've breached fiduciary duties, and if you've been involved in any criminal activities or bankruptcies. All this can be submitted electronically, except any additional explanations for being removed from fiduciary roles, which must be submitted in writing.
(a)CA Business & Professions Code § 6561(a) A licensee shall initially, and annually thereafter, file with the bureau a statement under penalty of perjury containing the following:
(1)CA Business & Professions Code § 6561(a)(1) The licensee’s business address, telephone number, and facsimile number.
(2)CA Business & Professions Code § 6561(a)(2) Whether or not the licensee has been removed for cause as a conservator,
guardian, trustee, personal
representative of a decedent’s estate, agent under a durable power of attorney for health care, agent under a durable power of attorney for finances, or a position arising from appointment as a professional fiduciary practice administrator. The licensee may file an additional statement of the issues and facts pertaining to the case.
(3)CA Business & Professions Code § 6561(a)(3) The names of the licensee’s current conservatees, wards, principals under a durable power of attorney for health care, or principals under a durable power of attorney for finances, and the names of trusts
and decedent’s estates currently administered by the licensee, whether the cases are court supervised or non-court supervised, and including court names, court locations, and case numbers where applicable.
(4)CA Business & Professions Code § 6561(a)(4) The case names, court locations, and case numbers of all conservatorship, guardianship, trust and other estate administration cases that are closed for which the licensee served as the conservator, guardian, trustee, agent under a durable power of attorney for finance or health care, and personal representative of a decedent’s estate, whether the case is court supervised or non-court supervised.
(5)CA Business & Professions Code § 6561(a)(5) Whether
the licensee has been found by a court to have breached a fiduciary duty.
(6)CA Business & Professions Code § 6561(a)(6) Whether the licensee has resigned or settled a matter in which a complaint against the licensee has been
filed with the court,
along with the case number and a statement of the issues and facts pertaining to the allegations.
(7)CA Business & Professions Code § 6561(a)(7) Any licenses or professional certificates held by the licensee.
(8)CA Business & Professions Code § 6561(a)(8) Any ownership or beneficial interests in businesses or
other enterprises held by the licensee or by a family member that receives or has received payments from a client of the licensee.
(9)CA Business & Professions Code § 6561(a)(9) Whether the licensee has filed for bankruptcy or held a controlling financial interest in a business that filed for bankruptcy in the last ten years.
(10)CA Business & Professions Code § 6561(a)(10) The name of any persons or entities that have
an interest in the licensee’s professional fiduciary business.
(11)CA Business & Professions Code § 6561(a)(11) Whether the licensee has been convicted of a crime.
(b)CA Business & Professions Code § 6561(b) The statement by the licensee required by this section may be filed electronically with the bureau, in a form approved by the bureau. However, any additional statement filed under paragraph (2) of subdivision (a) shall be filed in writing.
annual filing requirement business address licensee contact information
Section § 6561.5
If you're a licensed professional, you must reply within 30 days to any written questions from the bureau about a complaint against you. If you don't respond, or if you give false information, or try to obstruct an investigation, you could face disciplinary actions.
(a)CA Business & Professions Code § 6561.5(a) A licensee shall respond to any written inquiry relating to the investigation of a complaint against a licensee by the bureau within 30 calendar days. The failure of, or refusal by, a licensee to respond to the written inquiry shall constitute a cause for disciplinary action.
(b)CA Business & Professions Code § 6561.5(b) A licensee shall provide true and accurate information and responses to questions, subpoenas, interrogatories or other requests for information or documents and not take any action to obstruct any bureau inquiry, investigation, hearing, or proceeding. Any failure to comply with this subdivision shall constitute a cause for disciplinary action.
licensee responsibility written inquiry response investigation compliance
Section § 6562
This section requires that an annual statement must be filed with the bureau 60 days before a license expires.
The annual statement shall be filed with the bureau 60 days prior to the expiration of the license as provided in subdivision (a) of Section 6541.
annual statement filing deadline 60 days prior
Section § 6562.5
If a professional fiduciary in California decides not to renew their license, they must notify the relevant bureau in writing and submit a final annual statement showing they no longer need the license. This notice and statement must be sent 60 days ahead of closing their business, stopping their practice, or the license expiration, whichever happens first. The bureau will check for any differences between the statement and their records, and the licensee must resolve any issues.
(a)CA Business & Professions Code § 6562.5(a) A licensee shall notify the bureau in writing of their intent not to renew their license and submit a final annual statement in accordance with Section 6561 and Section 4542 of Title 16 of the California Code of Regulations, as it read on January 1, 2023, demonstrating they are no longer subject to licensure under this chapter.
(b)CA Business & Professions Code § 6562.5(b) The written notice of nonpractice and final annual statement shall be submitted to the bureau 60 days before closing their business, ceasing practice as a professional fiduciary, or the expiration of their professional fiduciary license, whichever comes first.
(c)CA Business & Professions Code § 6562.5(c) The bureau shall provide the licensee with any discrepancies between the final annual statement and the bureau’s records and the licensee shall comply with the bureau to address and resolve any outstanding matters.
license nonrenewal notification to bureau final annual statement
Section § 6563
This law requires licensed professionals to be open about their fees. If they have a website, they must post their fee schedule or range, including hourly rates, online by January 1, 2023. If they don't have a website, they need to provide their fee schedule to potential clients before signing a contract and to anyone who asks. Additionally, if a client is, or will become, a conservatee, the licensee must inform interested parties about their fees.
(a)CA Business & Professions Code § 6563(a) On or before January 1, 2023, a licensee with an internet website shall post on that internet website a schedule or range of the licensee’s fees, including, but not limited to, hourly fees, for services offered.
(b)CA Business & Professions Code § 6563(b) On or after January 1, 2023, a licensee who does not have an internet website shall do all of the following:
(1)CA Business & Professions Code § 6563(b)(1) Provide a prospective client, before the execution of a contract for services, a schedule or range of the licensee’s fees, including, but not limited to, hourly fees, for services offered.
(2)CA Business & Professions Code § 6563(b)(2) Upon receipt of
a request, provide a client with a schedule or range of the licensee’s fees, including, but not limited to, hourly fees, for services offered.
(3)CA Business & Professions Code § 6563(b)(3) If the prospective or current client is a proposed or current conservatee, provide all interested persons, as defined in paragraph (2) of subdivision (b) of Section 1822 of the Probate Code, with a schedule or range of the licensee’s fees, including, but not limited to, hourly fees, for services offered.
licensee fees hourly fees service fee schedule
