Free Version

Dashboard
Review Topics
Drills
Practice Exams
Flashcards
Vocabulary
Buffalo roam at night and at dusk, but we aren't the ones who have to wake up for an 8 a.m. test.

Fiduciary Accounts

Fiduciary Accounts

It's also possible to have accounts in which you are acting for somebody else's benefit. If that's the case, you are acting as a fiduciary. "Fiduciary" is a legal term, and it can have different meanings depending on the circumstances, but for Shmoop's purposes, it's somebody who is required to act in the beneficiary's best interest, even if that would be economically damaging to the fiduciary. If a husband's wife and her sisters inherited $50,000 from a distant uncle who struck it rich,...

Looking for more? Why is this annoying box in the way? It's because you haven't paid for the course yet!

$65.65
Next: UGMA and UTMA  
  Prev: Types of Brokerage Accounts

*Securities is a registered trademark of the College Board, which was not involved in the production of, and does not endorse this product.