San Diego City Wire

A new law introduced by Senator Brian W. Jones aims to support seniors, individuals with disabilities, and children in managing their financial affairs. The legislation, known as SB 1024, was signed into law last night.

SB 1024 creates a process for probate courts to appoint a professional fiduciary practice administrator as a temporary successor if the original fiduciary becomes incapacitated or dies. This measure addresses the lack of legal provisions for timely replacement in such cases.

Professional fiduciaries play an essential role for their clients by handling daily care, housing, medical needs, and financial management services like bill paying and estate management. Currently, delays in appointing a new fiduciary can lead to missed or neglected financial actions.

Senator Brian W. Jones commented on the importance of the bill: “Some seniors, persons with disabilities or children under court care need the consistent help of a professional fiduciary to handle their financial affairs,” he said. “SB 1024 streamlines and expedites the process for temporarily replacing a professional fiduciary who passes away or becomes incapacitated and provides a financial matter safety net for their clients.”

The Senate and Assembly passed SB 1024 unanimously. With Governor Newsom's signature yesterday, it will take effect on January 1, 2023.