Legal Definitions - fidei-commissarius

A fidei-commissarius is a legal term, primarily originating from Roman law and used in civil law systems, that refers to the person or entity for whose benefit a trust or similar arrangement (known as a fideicommissum) is created. In common law jurisdictions, this role is typically referred to as the "beneficiary" or "cestui que trust." Essentially, the fidei-commissarius is the individual or group who is intended to receive the benefits, income, or assets held in trust by another party (the trustee or fiduciarius).

• Example 1: A Grandparent's Legacy

  A grandmother establishes a trust in her will, stipulating that a sum of money be held and managed by a bank (the trustee) for her grandson's college education. The trust specifies that funds can be disbursed to cover tuition, books, and living expenses once the grandson enrolls in an accredited university.

  Explanation: In this scenario, the grandson is the fidei-commissarius because he is the designated individual who will ultimately receive the benefits (financial support for his education) from the trust established by his grandmother. The bank, as trustee, holds and manages the assets specifically for his benefit.

• Example 2: Supporting a Local Charity

  A wealthy philanthropist creates an endowment fund, structured as a perpetual trust, to provide ongoing financial support for a specific local animal shelter. The trust agreement names a board of directors to oversee the fund's investments and ensure annual distributions are made to the shelter.

  Explanation: Here, the local animal shelter acts as the fidei-commissarius. It is the organization for whose benefit the endowment trust was established, and it is entitled to receive the regular financial distributions from the fund to support its operations.

• Example 3: Protecting Family Assets

  A couple sets up a revocable living trust to hold their primary residence and investment portfolio. The trust agreement states that upon their passing, their two adult children will become the beneficiaries, inheriting the assets according to specific instructions, such as staggered distributions over several years.

  Explanation: The two adult children are the fidei-commissarii. They are the ultimate recipients of the assets held within the trust after their parents' deaths, and the trust was created to manage and distribute those assets specifically for their future benefit.