AB 586: Professional fiduciaries.

This bill aims to expand the scope of professional fiduciaries by allowing them to organize professional fiduciary professional corporations to provide fiduciary services. These corporations must register with the state and comply with the existing Moscone-Knox Professional Corporation Act. The bill also requires professional fiduciaries to maintain specific information in their files and file annual statements with the state. The bill would amend existing law to include professional fiduciary corporations in the definition of a professional fiduciary and to prohibit the appointment of a professional fiduciary as a guardian, conservator, personal representative, or trustee unless they meet specific requirements. The bill also includes provisions related to the regulation of professional fiduciary corporations, the reporting of fiduciary services, and the punishment for perjury. Addition…