Kinly vs hiring a professional fiduciary
The short answer
A professional fiduciary is usually an individual or small firm hired for a role, billed by the hour or by a percentage of assets, with licensing in some states. Kinly is an annual membership that adds documents, a care plan and a 24/7 team, with a trust company named in your roles and hourly fees only for work done.
Maybe your brother is 78, or your closest friend lives across the country. You'd like a professional standing behind your plan, and two paths keep coming up: hire a professional fiduciary, or join a membership like Kinly.
Both put someone paid and accountable in the roles your plan creates. They are set up very differently, though, and they charge differently. This page walks through both, honestly. It is part of our guide to choosing professional help.
What does a professional fiduciary do?
A fiduciary is someone legally required to act in your interest and follow what you wrote. A professional fiduciary does that work for a living, for people who aren't family.
California's licensing agency gives a clear picture of the job. Its Professional Fiduciaries Bureau regulates non-family professional fiduciaries serving as conservators, guardians, trustees, personal representatives of an estate and agents under a durable power of attorney.
In everyday terms, a professional fiduciary might:
- Serve as your trustee, managing the trust and paying what needs paying
- Serve as your executor, settling the estate after you die
- Act as your agent under a power of attorney, handling money while you can't
- Be appointed by a court as guardian or conservator, if nothing was arranged in advance
Our longer page on professional fiduciaries goes deeper on the job itself.
How are professional fiduciaries licensed?
There's no single national license. It depends on your state and on the role.
California is the clearest example. A professional fiduciary there must pass an exam and complete 30 hours of approved education, then 15 hours of continuing education every year to renew (Professional Fiduciaries Bureau). The Bureau has a license lookup you can use before you hire anyone.
Arizona's power of attorney law also takes fiduciary licensing seriously. Someone whose fiduciary license was suspended or revoked can't serve as an agent under a power of attorney unless related to the principal (A.R.S. 14-5501).
Other states differ, and some may not license this work at all. Ask any professional what license or certification they hold, then check it with the agency that issued it.
How do professional fiduciaries bill?
Most use one of two models:
- By the hour. Many individual fiduciaries bill for their time: calls, visits, bill paying and paperwork.
- By a percentage of assets. Trust companies acting as trustee often charge a yearly percentage of what's in the trust, usually with a minimum. Our page on trust company fees shows published schedules.
We haven't found a reliable, current public source for typical hourly rates, so we won't quote one. When a court supervises the work, the court decides what's reasonable. California's Rule of Court 7.756 lists factors for conservators' and guardians' pay, such as the size of the estate, the time spent and whether the work needed more than ordinary skill. It also says a court can't set a maximum approved hourly rate.
When a professional serves as executor, state law frames the pay, whoever serves. California and New York use a percentage formula. Many other states allow "reasonable" compensation (Uniform Probate Code 3-719).
| State | How executors are paid |
|---|---|
| California | 4% of the first $100,000, 3% of the next $100,000, 2% of the next $800,000, then lower rates (Prob. Code 10800) |
| New York | 5% of the first $100,000, 4% of the next $200,000, 3% of the next $700,000, then lower rates (SCPA 2307) |
| Most others | "Reasonable" compensation, with the court deciding if anyone objects |
A will can set a different fee. Our page on executor fees by state has more detail.
How Kinly works
Kinly is a membership rather than a hire. It's $999 a year for one person or $1,499 for a couple. That includes:
- A care plan: everything only you know, kept on file, and you can change it any time from your phone
- Four documents written for your state: will, revocable trust, medical power of attorney and financial power of attorney
- A team on call 24/7/365 with your plan in front of them, through the number on your membership card
- Trella Trust Company, a Washington State chartered trust company, named in any or all four roles
You set the order in every role. Kinly can be first, or the backup behind a sister, brother or friend, which is what we mean by a standby fiduciary. If the trust company actually steps in and does work, such as paying bills while you're in the hospital or settling the estate, that work is charged by the hour. You always see the rates before anything starts.
Side by side
| Item | Professional fiduciary | Kinly |
|---|---|---|
| Who serves | Usually an individual or small firm | Trella Trust Company, a Washington State chartered trust company |
| Documents | Not usually included; you'd need them drafted separately | Will, revocable trust, medical and financial powers of attorney, written for your state |
| Care plan | Depends on the fiduciary | Included, and you can change it any time |
| Reachable at any hour | Depends on the fiduciary | A team on call 24/7/365 |
| Cost while nothing is happening | Varies; ask whether there's a retainer | $999 a year for one person, $1,499 for a couple |
| Cost when work is done | Hourly or a percentage of assets; court-reviewed in some cases | Charged by the hour, with rates shown before anything starts |
| Licensing | Varies by state; California licenses individuals | A chartered trust company |
| Continuity | Depends on one person's health and practice | An institution, not one person |
| Local presence | Often local, which can help with visits | Nationwide, in all 50 states and Washington, D.C. |
Where a professional fiduciary may be the better fit
A local professional fiduciary has real strengths. They can visit in person, know the local courts and care providers, and may already be working with your family.
If you need someone to act right now, hiring a fiduciary directly may also make more sense than a membership built for planning ahead. And if you only want one role filled, such as a trustee for one trust, a single hire can be simpler. Our page on corporate vs individual trustees compares the two kinds of professional.
Where Kinly may be the better fit
Kinly brings the documents, the care plan, the phone team and the trust company together in one place. If you're starting from scratch, that saves arranging each piece separately.
It also helps if you want a professional mostly as backup. You can name family or friends first and keep Kinly standing by behind them. And because the trust company is an institution, your plan doesn't depend on one person staying healthy and in practice for twenty years.
Questions to ask either one
- What will it cost in a year when nothing happens?
- What will it cost in a busy month, and how will I see the rates?
- Who answers if I'm in the hospital at 2 a.m.?
- Who takes over if the person handling my plan retires or gets sick?
- Can you serve as backup rather than first?
For a broader view, see naming a friend vs a professional and attorney, trust company or family. If you'd like to talk it through, the free consultation is twenty minutes on the phone.
Common questions
How much does a professional fiduciary cost?
Most individual fiduciaries bill by the hour, and trust companies often charge a yearly percentage of assets with a minimum. As executor, pay follows state law, by formula in states like California and New York or as "reasonable" pay elsewhere. Ask for a written fee schedule before you name anyone.
Does a professional fiduciary need a license?
It depends on the state. California requires a license through its Professional Fiduciaries Bureau, with an exam, 30 hours of education and yearly continuing education. Other states differ, so ask what license a fiduciary holds and check it.
Is Kinly a professional fiduciary?
Kinly is a membership. Through it, Trella Trust Company, a Washington State chartered trust company, can be named in any or all of the four roles in your plan. It acts on what you wrote, and its hourly work is charged only when it actually steps in.
Can I use both?
Yes. You can name different people or firms in different roles, or put one behind another as backup. Just make sure each role names someone, and that each person knows where your plan is kept.
Sources
- California Professional Fiduciaries Bureau
- California Professional Fiduciaries Bureau: license verification
- California Rules of Court, Rule 7.756: Compensation of conservators and guardians
- A.R.S. 14-5501: Durable power of attorney (Arizona Legislature)
- Uniform Probate Code section 3-719: Compensation of personal representative
- Cal. Prob. Code 10800: Personal representative compensation
- N.Y. SCPA 2307: Commissions of fiduciaries
This page is general information, not legal or financial advice. Laws vary by state.