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LSDefine

Simple English definitions for legal terms

successor fiduciary

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A quick definition of successor fiduciary:

Successor Fiduciary: A person who is appointed to take over the responsibilities of another person who was previously in charge of managing someone else's money or property. This new person is also required to act in the best interest of the person they are managing the money or property for, just like the previous person was supposed to do. Sometimes, a temporary person is appointed until a permanent successor fiduciary can be found.

A more thorough explanation:

Definition: A successor fiduciary is a person who is appointed to replace or succeed a previous fiduciary. A fiduciary is someone who is legally required to act in the best interest of another person and owes them duties of good faith, trust, confidence, and candor. For example, a trustee who manages a trust for the benefit of the beneficiaries is a fiduciary.

Examples: If a trustee resigns or is removed from their position, a successor fiduciary may be appointed to take over their duties. Similarly, if an executor of a will passes away before completing their duties, a successor fiduciary may be appointed to finish administering the estate.

These examples illustrate how a successor fiduciary is appointed to take over the responsibilities of a previous fiduciary. The successor fiduciary is expected to act in the same manner as the previous fiduciary, in the best interest of the beneficiaries or estate.

successor agent | successor guardian

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MIAMI A
[] AromaticTroubledDormouse
20:55
How does one know if they are UR1 or UR2?
[] AromaticTroubledDormouse
20:56
CONGRATS MACAQUE!
TY
got a random stanford email and almost had a heart attack
ALSO CONGRATS!
Congrats1!
21:15
Miami A, yall I'm so excited I could cry.
21:15
Feel like I can finally stop holding my breath!! Whew!!!
[] baddestbunny
22:16
every time I get accosted by a strange man who follows me around because my male coworkers were too busy talking to walk me back to my car I get closer to saying we need to bring back traditional gender roles
Dkk
22:32
Nice! @Macaque
Dkk
22:32
@Aromatic, Have to guess.
Dkk
22:33
That sucks @Bunny do you have to go to the hospital?
[] baddestbunny
22:40
I said accosted not assaulted
23:35
guys. my notre dame address just went long is this good or bad
1a2b3c4d26z
23:37
Oooooo me too
23:37
omg is this good or bad
Dkk
23:47
Idk if gender roles are gunna fix that then.
23:49
it looks like most people who applied in october last cycle didn't get a decision until january... does it even mean anything that our addresses went long??
hows ED 2 compared to ED 1?
Dkk
0:10
No idea
windyMagician
0:34
reporting live to say my ndls address also went long
does it mean anything ^
Dkk
2:21
NDLS and Fordham took a very long time last year. It's good info for people to know.
[] baddestbunny
4:29
let’s get after it boys and girls
Dkk
5:21
I gtg to bed soon.
Dkk
5:22
Big day today. Gunna be a crazy one. I will sleep through the first half.
good morning lsd it is 5 am EST
also jazzy my ndls address went long ages ago i sadly do not think it means anything
my stanford address also went long LOL i think at most it's an indicator it's under review
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