Definition & Meaning of "fiduciary"

Fiduciary

a person or organization that holds a position of trust, responsibility, and confidence to manage assets or property on behalf of others

fiduciary

legally obligated to act in the best interests of another party, typically when managing their assets or affairs

Example

As a fiduciary, the trustee must act in the best interests of the beneficiaries.

The lawyer was appointed as the fiduciary to manage the estate after the owner's passing.

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