06/22/2026
⚖️ Legal Term of the Week: Fiduciary Duty ⚖️
A fiduciary duty is a legal obligation requiring one person or entity to act in the best interests of another.
Fiduciary duties commonly arise in relationships involving:
Trustees and beneficiaries
Corporate directors and shareholders
Attorneys and clients
Executors and estates
This duty typically includes responsibilities such as loyalty, honesty, good faith, and reasonable care when making decisions on behalf of others.
Understanding fiduciary responsibilities is an important part of business, estate, and trust matters. Through our affiliate, Maine Fiduciary Services, Rudman Winchell also provides professional fiduciary and trust administration services designed to help individuals and families navigate these important responsibilities with confidence.