What is a “Fiduciary Duty?”

Certain people in certain positions owe to a person or persons a duty of trust in law. The word “fiduciary” in this context means a position of the utmost trust. By way of example, a trustee owes a duty of trust to the beneficiaries. The Trustee owes a duty to carry out the wishes of the settlor and should not do any act to the detriment of the beneficiaries. This is the position of Trust that exists in the case of a Trust. Similar to this is the position of an executor of a will who, once again, acts as a trustee on behalf of the beneficiaries and owes a similar obligation to the beneficiaries.

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