CA AB586

Authorizes licensed professional fiduciaries to form professional fiduciary professional corporations under the Moscone-Knox Professional Corporation Act to provide fiduciary services, with registration required through the Secretary of State

Requires professional fiduciary corporations to have only licensed individuals provide services, prohibits charging clients for incorporation costs, and mandates the corporation name include at least one current or former qualified person's last name

Expands grounds for license discipline to include failure to timely respond to bureau inquiries or produce requested documents, including those related to professional fiduciary corporations

Prohibits professional fiduciary corporations from being appointed as guardian or conservator of a person, limiting their appointments to estate and financial matters only

Repeals existing court appointment restrictions and replaces them with new requirements that professional fiduciaries must hold a valid license, be exempt from licensing, or be a properly organized professional fiduciary corporation to serve as guardian, conservator, personal representative, or trustee