Who is a fiduciary in a will?

Law. of or relating to the relationship of trust and good faith between a fiduciary and the person for whom the fiduciary acts: The executor of a will has a fiduciary duty to act in the best interest of the beneficiary. The banks do not assume any financial responsibility—they act in a fiduciary capacity only.

What is a fiduciary relationship?

Rather, fiduciary applies to any situation in which one person justifiably places confidence and trust in someone else, and seeks that person's help or advice in some matter. The attorney-client relationship is a fiduciary one, for example, because the client trusts the attorney to act in the best interest of the client at all times.

Is fiduciary a noun or adverb?

Fiduciary can also be used as a noun referring to the person who acts in a fiduciary capacity, and fiduciarily or fiducially can be called upon if you are in need of an adverb. The words are all faithful to their origin: Latin fīdere, which means "to trust."

What is an example of fiduciary duty?

A more generic example of fiduciary duty lies in the principal/agent relationship. Any individual person, corporation, partnership, or government agency can act as a principal or agent as long as the person or business has the legal capacity to do so.