Ad
related to: fiduciary powers definition insurance
Search results
Results from the WOW.Com Content Network
The Court of Chancery, which governed fiduciary relations in England prior to the Judicature Acts. A fiduciary is a person who holds a legal or ethical relationship of trust with one or more other parties (person or group of persons). Typically, a fiduciary prudently takes care of money or other assets for another person. One party, for example ...
Fiduciary duty is a legally binding responsibility of a professional to act in the client’s best interests. If they have agreed to act as a fiduciary, they cannot act in the best interests of ...
Acting as a fiduciary is a huge responsibility. It means you promise to act on behalf and in the best interest of another person or multiple people. Guide to Fiduciary Liability Insurance
The legal status of a protector is the subject of some debate. No-one doubts that a trustee has fiduciary responsibilities. If a protector also has fiduciary responsibilities, then the courts—if asked by beneficiaries—could order him or her to act in the way the court decrees. However, a protector is unnecessary to the nature of a trust ...
A trust company is a corporation that acts as a fiduciary, trustee or agent of trusts and agencies. A professional trust company may be independently owned or owned by, for example, a bank or a law firm, and which specializes in being a trustee of various kinds of trusts.
Fiduciary and financial advisor are related terms, but they are not synonymous. Some fiduciaries are financial advisors, but the term also includes individuals who do not work in finance.
Liability for breach of trust extends not only to the fiduciary who breaches his or her duty, and potentially to recipients of trust property, but may also reach people who have assisted the breach of fiduciary duty. [278] Generally speaking there must be both an act of assistance, and then a dishonest state of mind.
A fiduciary bond, otherwise known as a probate bond, is a protective court bond that ensures a fiduciary will honor the expectations placed on them according to the law. To prevent damage, as a ...
Ad
related to: fiduciary powers definition insurance