Fiduciaries

Fiduciaries are individuals or entities entrusted to manage another person’s assets or interests with a high standard of care and loyalty. They must act in the best interest of the person they serve, avoiding conflicts of interest and making decisions that prioritize that person's needs above their own or others'. Common examples include trustees managing a trust, financial advisors, and corporate directors. Essentially, fiduciaries have a legal obligation to act honestly, prudently, and in good faith, ensuring the entrusted assets are handled responsibly and ethically.