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Difference between revisions of "Four Key Duties of a Fiduciary"

From Clicklaw Wikibooks
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===Avoid conflicts of interest===
===Avoid conflicts of interest===
A '''conflict of interest''' happens if you make a decision about Martina’s property that may benefit someone else at Martina’s expense. As a fiduciary, you have a strict duty to avoid conflicts of interest. You should avoid even the appearance of a conflict of interest.
 
A '''conflict of interest''' is a situation in which you have competing interests or loyalties. Where you make a decision about Martina's property that benefits you or someone else at Martina's expense, you are in a conflict of interest. As a fiduciary, you have a strict duty to avoid conflicts of interest. You should avoid even the appearance of a conflict of interest.


Here are a couple of common examples of possible conflicts of interest.
Here are a couple of common examples of possible conflicts of interest.
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{{PLSTipsbox
{{PLSTipsbox
| text = Because you are now a fiduciary, you should avoid any conflicts of interest. Sometimes people have good intentions, but do things they shouldn’t. As a fiduciary, you have a duty to avoid making decisions about Martina’s property that may benefit someone else at Martina’s expense.
| text = Because you are now a fiduciary, you should avoid any conflicts of interest. Sometimes people have good intentions, but do things they shouldn’t. As a fiduciary, you have a duty to avoid making decisions about Martina’s property that may benefit someone else at Martina’s expense.  
}}
}}


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