Related Definitions
What is a Fiduciary?
A fiduciary is any person entrusted with managing property and financial assets on behalf of another party. In probate and trust administration, the fiduciary is a trustee, estate executor, attorney, or other personal representative.
An individual or institution entrusted with managing the assets and interests of another party, requiring them to act in the best interests of the beneficiary or principal. Fiduciaries have a legal and ethical obligation to exercise care, loyalty, and good faith in their dealings. Common examples include executors of wills, trustees of trusts, and agents under power of attorney. The fiduciary’s duties may include managing assets, making financial decisions, and providing transparent communication.
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