A Fiduciary is a person appointed to handle the affairs of another who, for one reason or another is unable to handle their own affairs. If the reason is the person is a minor, the fiduciary is called a guardian. When the reason is death, the court appoints an administrator. If the deceased has left a will, naming some person to be the administrator, the court usually permits that person to qualify as an executor.<\/p>\n
If the reason is mental incompetence, physical disability, inability to conserve his own assets, the fiduciary is called a committee, a conservator or a guardian.<\/p>\n
When a businessman\u2019s financial affairs become involved, an assignee for the benefit of the creditors is named. If placed in a receivership a fiduciary is known as a receiver.<\/p>\n
Please note: Fiduciaries are usually required by statute to furnish bonds<\/a>, conditioned on faithfully performing their duties in the appointed capacities.<\/p>\n","protected":false},"excerpt":{"rendered":" A Fiduciary is a person appointed to handle the affairs of another who, for one reason or another is unable to handle their own affairs. If the reason is the person is a minor, the fiduciary is called a guardian. When the reason is death, the court appoints an administrator. If the deceased has left … Continue reading What is a Fiduciary?<\/span>