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Difference between revisions of "Four Key Duties of a Fiduciary"
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Four Key Duties of a Fiduciary (view source)
Revision as of 06:36, 14 December 2017
, 06:36, 14 December 2017no edit summary
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Under [http://canlii.ca/t/849l the law], you have a duty to act honestly and in good faith. Because Martina has placed trust and confidence in you and has given over power to you, the law imposes a duty on you to honour that trust. | Under [http://canlii.ca/t/849l the law], you have a duty to act honestly and in good faith. Because Martina has placed trust and confidence in you and has given over power to you, the law imposes a duty on you to honour that trust. | ||
[[File:Managing Money for Someone Else-Contents-1.jpg|thumb|275px|right| link=| <span style="font-size:50%;">Image via www.istockphoto.com</span>]] | |||
In managing and making decisions about Martina’s affairs, you must act in her best interests. This means that you must make decisions that are best for her. You must ignore your own interests and needs, or the interests and needs of other people. | In managing and making decisions about Martina’s affairs, you must act in her best interests. This means that you must make decisions that are best for her. You must ignore your own interests and needs, or the interests and needs of other people. | ||
If any decision you make benefits you, it must only be done with Martina’s full knowledge and consent. | If any decision you make benefits you, it must only be done with Martina’s full knowledge and consent. | ||
To help you act honestly, in good faith and in Martina’s best interest, follow these guidelines. | To help you act honestly, in good faith and in Martina’s best interest, follow these guidelines. | ||