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LSDefine

Simple English definitions for legal terms

fiduciary

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A quick definition of fiduciary:

A fiduciary is someone who has a responsibility to act in the best interest of someone else. This means they must make decisions that will benefit the other person financially. When someone has this responsibility, it creates a special relationship called a fiduciary relationship.

A more thorough explanation:

Definition: A fiduciary is a person who has a legal obligation to act in the best interest of another person or entity. This obligation is known as a fiduciary duty. When someone has a fiduciary duty to someone else, they must act in a way that will benefit the other person financially.

For example, a financial advisor has a fiduciary duty to their clients. This means that they must act in the best interest of their clients when making investment decisions. They cannot make decisions that benefit themselves at the expense of their clients.

Another example is a trustee of a trust. The trustee has a fiduciary duty to the beneficiaries of the trust. They must manage the assets of the trust in a way that will benefit the beneficiaries.

These examples illustrate the definition of a fiduciary because in both cases, the person with the fiduciary duty must act in a way that benefits someone else financially. They cannot act in their own self-interest or make decisions that harm the other person or entity.

fictitious name | fiduciary duties of trustees

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11:12
The way they act is so cringe and gives mad ick
babycat
11:12
@BulbasaurNoLikeCardio: people are saying this has been a pattern with them
babycat
11:12
imagine being a religious school and not supporting mothers. practice what you preach!
11:12
Fuck dem hoes
11:13
Child bearing people*
11:13
i cant spell fuck dont correct me
11:15
Anywayyyyy, i think today i will withdraw all my apps
11:15
This lsat is not doing it
babycat
11:15
lol live ur truth
11:15
ASU at 154 is damn good
11:15
154 scholly
BulbasaurNoLikeCardio
11:15
It is shitty that was a pattern of behavior but I am glad someone is finally standing up for themselves. Like I can be a pretty rigid butthole guy when it comes to getting stuff but a complete lack of empathy or situational awareness shown by the school and their staff is mind blowing. When I was talking about it in the office they all thought I was lying cause it sounds so crazy.
Dkk
11:16
@babycat: ahh link me something. Idk what you are talking about with GTown and mothers and all that.
11:16
Idk if any of you watch UFC but one time interim heavyweight champ Tom Aspinall won a fight and said on the mic afterwards “if you feel scared to do something, that’s a pretty good sign you should just go fucking do it” and I believe that applies very much to people wondering if they should R&R. Sure you can but why not just see what happens now?
babycat
11:16
School fucked up so bad they got hellwoods to sign a petition
11:16
Ive also heard their career center is awful too, I think its why it will never be anything but 14-15
JumpySubsequentDolphin
11:17
@Dkk: i think a law student was pregnant and due to give birth a few days before finals and they refused to accomodate her
JumpySubsequentDolphin
11:17
accommodate*
11:17
@Mostlylegal: yeah and i was thinking fuck it just go party for three years but i got other options and need to start building, top law schools were worth that 3 year pause but i am not sure i can do that for asu and their outcomes
11:19
Also I just got diagnosed with ADHD is it stupid if I dont take the test again now that Im medicated?
Dkk
11:19
She offered to take it early? Should have given her that one. Remote I can understand saying no to but taking it early, yes.
babycat
11:20
big things coming for babycat. I own a resistance band now
concorde
11:20
@renard99: jones needs to take this advice and fight aspinall
11:21
is that what they are calling punk rock bands these days?
BulbasaurNoLikeCardio
11:21
@babycat: did you get a booboo or just trying to do more workouts at home?
11:21
@Mostlylegal: I jumped six points after beginning adhd meds. Might be worth it
Dkk
11:22
Just an hour and 38 minutes left before I can ask Kayle in LSAT Demon to marry me. I take these AMA's seriously.
11:22
@concorde: “I will retire Jon Jones without even fighting him” hardest thing anyone in the UFC ever said
m10
11:23
i spelled her fucking name wrong lmfao, Kaley. Lmfao.
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