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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 ...
Protector: A protector may be appointed in an express, inter vivos trust, as a person who has some control over the trustee—usually including a power to dismiss the trustee and appoint another. The legal status of a protector is the subject of some debate. No-one doubts that a trustee has fiduciary responsibilities.
Discretionary trusts and powers in English law are elements of the English law of trusts, specifically of express trusts.Express trusts are trusts expressly declared by the settlor; normally this is intended, although there are situations where the settlor's intentions create a trust accidentally.
What is a fiduciary? A fiduciary is someone in a position of trust over the affairs of another. It comes from the Latin word fiduci, which means trust. A fiduciary is bound by law or oath to put ...
The trustee is to act in accordance with such powers unless "the attempted exercise is manifestly contrary to the terms of the trust or the trustee knows the attempted exercise would constitute a serious breach of a fiduciary duty that the person holding the power owes to the beneficiaries of the trust."
A fiduciary trust is a fiduciary relationship in which a trustee holds the title to assets for the beneficiary. The trust's creator is called the grantor and a fiduciary trust is structured under trust law .
A fiduciary deposit account is an account that’s owned by one or more persons but managed by another. The owner is known as the principal, while the manager is known as the fiduciary .
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