What Is A Fiduciary Agreement

It is therefore important to understand what this means and to ensure that your actions comply with these obligations. A friend told the writer well when asked if he really wanted to assume this obligation in an estate plan: “You can judge yourself by the number of people who trust you enough to ask you to make the greatest commitment possible. They want me to protect them when I am incompetent. What greater compliment could they ever give me?¬†Fiduciary activities may also apply to specific or one-off transactions. For example, an escrow deed is used to transfer ownership of a sale when a trustee is required to act as executor of the sale on behalf of the owner of the property.

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