Ad
related to: fiduciary duties
Search results
Results From The WOW.Com Content Network
Fiduciary duties in a financial sense exist to ensure that those who manage other people's money act in their beneficiaries' interests, rather than serving their own interests. A fiduciary duty [5] is the highest standard of care in equity or law.
Scholarly literature has defined this as a "tripartite fiduciary duty", composed of (1) an overarching duty to the corporation, which contains two component duties — (2) a duty to protect shareholder interests from harm, and (3) a procedural duty of "fair treatment" for relevant stakeholder interests.
Where fiduciary duty makes the most sense is in evaluating whether employers give their workers the best starting point they can get. In a 2009 case, ...
The other aspects of fiduciary duty are a director's duty of loyalty and (possibly) duty of good faith. Put simply, a director owes a duty to exercise good business judgment and to use ordinary care and prudence in the operation of the business. They must discharge their actions in good faith and in the best interest of the corporation ...
A fiduciary has a high duty of care for clients, meaning that a fiduciary must always put a client’s interests ahead of their own. In contrast, a financial advisor may only have to act according ...
“The suitability standard of care is lower than a fiduciary duty and requires only that the broker has a reasonable basis to recommend a course of action is suitable for the customer based upon ...
Trustees [2] have certain duties (some of which are fiduciary). These include the duty to: Carry out the expressed terms of the trust instrument. [3] Trustees are bound to act in accordance with the terms of the trusts upon which the trustee holds trust property, and commit a breach of trust by departing from the terms of the trust. [4]
Continue reading ->The post Fiduciary Duties in Trusts and Estate Planning appeared first on SmartAsset Blog. As you plan how you will leave your estate, it's important to your family’s future ...