Fiduciaries carry a profound responsibility for the individuals they serve. Beyond protecting assets and meeting legal standards, your role directly shapes a client’s quality of life. While helping to provide safety and compliance is important, fiduciary work is also about supporting dignity, autonomy, and everyday choice.

Striking this balance is rarely straightforward. Duties of care and loyalty require caution, yet clients also deserve the freedom to make meaningful decisions. Thoughtful fiduciaries look for ways to help safeguard resources while still empowering independence – helping clients live with greater self-determination.

The Importance of Independence

For many people, having the ability to make everyday spending choices is a powerful expression of independence. This is especially true for older adults or individuals with disabilities, who may rely on the care and support of others in their daily lives. In those circumstances, even small financial decisions like buying a meal with friends, choosing their own clothing, or budgeting for a hobby can carry significant weight. These choices build confidence, foster dignity, and reinforce autonomy.

Practical Ways Fiduciaries Can Support Independence

1. Involve the beneficiary in decision making

Fiduciaries have strict standards to uphold, but those duties don’t mean excluding the person they serve. Using an approach like supported decision-making can be especially useful here. Rather than having decisions made for them, individuals make their own choices with assistance from trusted supporters. This approach gives beneficiaries a voice while still ensuring fiduciaries meet their legal responsibilities.

2. Enable thoughtful access to funds

Allowing someone to make independent decisions about their spending doesn’t have to mean exposing them to risk. Tools like the True Link Visa® Prepaid Card give fiduciaries the ability to set guardrails through the platform’s Spending Monitor. For example, a fiduciary might block cash withdrawals, large one-time purchases, or online transactions to help protect a beneficiary from being taken advantage of, while still allowing everyday spending of under $30 at local shops and restaurants. This kind of approach can help prevent risky spending while preserving autonomy in daily life.

3. Honor dignity in disbursements

Making decisions about requests for funds for electronics, vacations, or hobbies isn’t always straightforward. Fiduciaries must consider both the intent of a trust or benefit program and the client’s desire for independence. Even when a purchase doesn’t seem strictly “necessary,” discretionary spending can have a meaningful impact on a client’s quality of life. The challenge is to navigate these requests without letting personal judgment or biases drive the decision. Read this article for more recommendations on how to navigate tricky disbursement requests.

4. Build in transparency and communication

Clear, proactive communication with clients helps avoid misunderstandings and build trust. Whether it’s regular reports about bills being paid directly from the trust, explaining the reasoning behind decisions, or simply checking in, communication reinforces independence by ensuring the beneficiary feels included. 

5. Establish safeguards without overprotecting

Helping safeguard clients from scams, undue influence, and financial exploitation is a core fiduciary duty. But protection doesn’t have to mean restricting all financial freedom. Layered safeguards like blocking categories in True Link’s Spending Monitor or setting up transaction alerts can help protect vulnerable clients while still allowing them to use their money independently. You can read more in this article about how fiduciaries help protect clients from financial abuse. 

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Being a fiduciary is more than a financial responsibility – it’s about stewardship of someone’s finances and well-being. While fulfilling your fiduciary duties, it is possible to also foster independence and create conditions where clients can live fully. With the right tools, open communication, and a commitment to dignity, fiduciaries can enable independence for those they serve. 

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