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Simple English definitions for legal terms

fiduciary debt

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A quick definition of fiduciary debt:

Term: FIDUCIARY DEBT

Definition: Fiduciary debt is a type of debt that comes from a special relationship between two people or entities. This relationship is based on trust, and one person or entity is responsible for taking care of the other person's money or property. If the person or entity in charge of the money or property does something wrong, they can be held responsible for the debt that is owed.

A more thorough explanation:

Fiduciary Debt

Fiduciary debt is a type of debt that arises from a fiduciary relationship, rather than from a purely contractual relationship.

A fiduciary relationship is one in which one party (the fiduciary) is entrusted with the care of another party's assets or interests. Fiduciary debt arises when the fiduciary incurs debt on behalf of the other party, such as when a trustee takes out a loan to manage a trust's assets.

A trustee takes out a loan to invest in a trust's assets.
An attorney incurs debt on behalf of a client to pay for legal fees.
A financial advisor borrows money to invest in a client's portfolio.

These examples illustrate how fiduciary debt arises from a relationship of trust and responsibility. The fiduciary is obligated to act in the best interests of the other party, and the debt incurred is for the benefit of the other party's assets or interests.

fiduciary contract | fiduciary heir

General

General chat about the legal profession.

General >T14 Off Topic

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Dkk

18:43

@texaslawhopefully: Yeah, I mean it could happen to the senate and house like it did to Obama but if he keeps his overall approval rating up, even if someone does not like individual policies it's compromise: https://www.newsweek.com/donald-trumps-approval-ratings-break-records-democrats-back-him-2018900

llama

18:43

@atwat @can run along kids and go play with your toys. the adults are talking now.

windyMagician

18:44

i think this cycle is so slow that we have nothing better to do than tap

windyMagician

18:45

*yap my b

texaslawhopefully

18:45

@Dkk: Fair. My guess is (if the DNC is smart) dems change there messaging to be more appealing to moderates, they start winning and they hopefully that encourages republicans to move back to the center.

Dkk

18:47

Yeah, exactly.

llama

18:47

i for one STILL cannot believe donnie is prez. like gobsmacked. how did that happen? was it getting gunned down that sealed the deal?

GapingVariousTurkey

18:47

Im starting to worry that I wont hear back from some schools before deposit deadline. Anyone have any advice? Is it possible they push back deposit dates?

GapingVariousTurkey

18:48

i really dont wanna lose that much money

texaslawhopefully

18:48

@llama: This was the best explanation that I read for it: https://samharris.substack.com/p/the-reckoning

llama

18:48

@GapingVariousTurkey: same bro. im not worried cause yolo, but i think an honest talk with each applicable school will allow them to give leeway

texaslawhopefully

18:48

But, yeah, I think many people were shocked

thanatologist

18:49

any UK law students?

llama

18:49

@texaslawhopefully: when I have some time i will read, thanks fren. Regardless of whichever of the two [T or H] are in the WH, I truly believe expectations will be looked back on as over worried.

llama

18:50

@thanatologist: Kentucky?

texaslawhopefully

18:51

@llama: I don't know man, maybe I've been reading way too much news but I'm worried in a way I wasn't with Biden, or would've been with Harris

llama

18:53

@texaslawhopefully: looking back, the Rs were freaking out saying Biden was going to end the country, and the Ds were freaking out during DJTs 1st term. Neither did exceptionally bad or good, IMHO. At the end of the day, the rest of the GOV (Judaical and Congress) really put a damper on grandiose executive plans. Finally, we all know Donnie is a talker: he anchors (ie tarrifs), he talks shit, he says he will do X and never does. news eats that shit up, but I think most will not ever come to pass

Dkk

18:54

I really think it's a lot of political theater right now. I think a huge percentage of these EO's are just going to be shot down.

llama

18:55

the news sells fear. that is their product (hence why u see COPD, heart meds, stress/ antidepressants adverts during primtime). We know trump has a big mouth, and when he opens it, he spews nonsense which gets funneled into ur ears- ratings skyrocket.

llama

18:56

not COPD. my bad ^

KnowledgeableRitzyWasp

18:57

dem messaging is lightyears behind MAGA messaging, part of this can be blamed on foreign governments boosting the MAGA party to destabilize the country, but the democrat old guard is so far behind MAGA strategy

llama

18:57

@Dkk: exactly.

KnowledgeableRitzyWasp

18:58

dems need to give way to modern leftists like AOC and bernie

llama

18:58

@KnowledgeableRitzyWasp: AOC is my crushhhh

Dkk

18:59

It's amazing cus in 2008/2012 people were even wondering if the Republican party was still going to be a thing and then yeah, MAGA just took over.

KnowledgeableRitzyWasp

18:59

but unfortunately the left purity tests all of its members to death, for the left their candidates have to be perfect, for the right their candidates are basically forgiven for anything. it makes it a hard sell for upcoming talent to attach to the left wing when they will cancel their politicians for any perceivable social slight

texaslawhopefully

18:59

Yeah, unfortunately that happened in part with Harris and the far-Left

llama

19:00

@KnowledgeableRitzyWasp: see with takes like that, it is no wonder how you are called Knowledgeable Wasp

KnowledgeableRitzyWasp

19:00

ie a lot of the left didnt vote for harris because they thought biden was too soft on israel for the I/P situation. but now they have trump who will literally hand netanyahu bombs to genocide palestinians

texaslawhopefully

19:01

And even on that issue, though, I thought Biden was very moderate, whereas the far-Left just had unrealistic expectations of where he was going to end up

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