Fiduciary Duty

Fiduciary duty is a legal obligation of one party to act in the best interest of another. This duty often arises in relationships where trust and reliance exist, such as between a lawyer and client or a trustee and beneficiary. The party with the fiduciary duty must prioritize the interests of the other, avoid conflicts of interest, and provide full disclosure about relevant information. Failing to uphold this responsibility can lead to legal consequences. In essence, it’s about trust and ensuring that one party acts selflessly for the benefit of another.