Fiduciary (Noun)
Meaning
A person who holds assets in trust for a beneficiary; "it is illegal for a fiduciary to misappropriate money for personal gain".
Classification
Nouns denoting people.
Examples
- The trustee was appointed as a fiduciary to manage the estate of the deceased and distribute the assets according to the will.
- As a fiduciary, the lawyer was responsible for holding the client's funds in a separate account until the case was settled.
- The court appointed a fiduciary to oversee the financial affairs of the elderly woman who was no longer able to manage her own assets.
- It is a breach of duty for a fiduciary to use the assets for personal benefit rather than for the benefit of the beneficiary.
- The company's CEO was accused of violating her fiduciary duty by using company funds to pay for her own lavish expenses.