Legal definition of fiduciary
Living Trusts Legal Terminology

fiduciary

1
for the purposes of estate administration: Fiduciary means a personal representative or trustee. The term includes an executor, administrator, successor personal representative, and a person performing substantially the same function.
A fiduciary shall administer a trust or estate in accordance with the terms of the trust or the will;
may administer a trust or estate by the exercise of a discretionary power of administration given to the fiduciary by the terms of the trust or the will;
A fiduciary shall administer a trust or estate impartially, based on what is fair and reasonable to all of the beneficiaries, except to the extent that the terms of the trust or the will clearly manifest an intention that the fiduciary shall or may favor one or more of the beneficiaries.
2
"Original fiduciary" means a fiduciary who is replaced by a substitute fiduciary or who makes a delegation of power under this part.(sec.355)
Source: California Probate Code. website
Find a legal term by clicking on the first letter of a legal word or phrase:
James M DanielsonAttorney at LawPRACTICE AREA: Business Law, Health Care Law, Alternate Dispute Resolution, Litigation
John B DaukasAttorney at LawPRACTICE AREA: Health Care Law, Alternate Dispute Resolution, Litigation
June K CampbellAttorney at LawPRACTICE AREA: Personal Injury, Professional Malpractice, Family Law, Insurance Litigation, Alternate Dispute Resolution, Litigation
New York TimesInside. Photo. Chi-Yu Liang, a partner at the law firm Withers Bergman, questions the fairness of a provision of the New York estate tax concerning gifts of out-of-state property. Credit Chester Higgins Jr./The New York Times. Continue reading the main ... more »
The GuardianThe Pompey Supporters' Trust and their partners, 11 local businessmen "presidents", mounted their bid and, on 10 April last year, Chainrai finally agreed to release his charge over the stadium, Fratton Park, and settle for a price of £3m. Saturday ... more »
The Detroit NewsIn the third version of its debt-cutting plan, filed Wednesday in bankruptcy court, the city acknowledged it doesn't know what kind of health care benefits retirees would get when it offloads $3.33 billion in liabilities to new trust funds. The city's ... more »
It's a free online legal dictionary search engine for definitions of legal terminology and legal words, legal abbreviations, and legal jargon you may meet when reading legal acts, law books, documents, legal forms and other legal content