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Fiduciary
01
a person or organization that holds a position of trust, responsibility, and confidence to manage assets or property on behalf of others
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.
fiduciary
01
legally obligated to act in the best interests of another party, typically when managing their assets or affairs
Example
The lawyer has a fiduciary duty to act in the best interests of their client.
Trustees have fiduciary responsibilities to manage assets for the benefit of beneficiaries.
