Guardians For Profit
GUARDIANS FOR PROFIT ‘Ruling Over Someone’ Has Paid Off Handsomely Frumeh Labow buzzes through the double doors of Los Angeles County’s main Probate Court, a queen bee in her hive. She has several items to settle. She asks a judge for permission to sell the Beverly Hills home of a 66-year-old man with Parkinson’s disease, though he wants to keep it. She asks the judge to order the release of financial records by the girlfriend of another aged client. She asks the court to approve $25,140 in fees, to be paid from the bank account of a third elderly ward. The judge gives her everything she wants. “I’m happy,” she says, making her way back through the double doors. “I got paid today.” Labow, 58, is among the most successful professional conservators in Southern California. She filed 158 cases between 1997 and 2003, 50% more than her closest competitor. Her firm, Complete Probate Administration Inc., controls $60 million of other people’s money. After her court hearing, Labow hops into her baby-blue Jaguar and heads for the house of a new client, an octogenarian with dementia and a million-dollar estate. Born in Chicago and named Frumeh to incorporate the Yiddish word for “pious,” Labow grew up in L.A.’s Cheviot Hills and went to UC Berkeley. She spent 13 years at the county agency that handles conservatorships for the incapacitated and the mentally ill, then followed a conga line of colleagues into the private sector. In Complete Probate, Labow has built what one attorney called a “private fiduciary estate factory.” She employs three full-time case managers. She has a controller, a paralegal and clerks who do everything from reconciling clients’ bank statements to planning their funerals. She herself spends much of her… Read More