A fiduciary is a person who assumes the responsibility of a position of trust; this can be as a guardian, conservator, or personal representative of an estate. They also serve by agreement as trustees, representative payees, or agents under powers of attorney. A private fiduciary is governed by state statute and is assigned as a neutral third party to protect vulnerable and incapacitated people from abuse, neglect, and exploitation.RelevanceMany seniors with family choose to appoint a private fiduciary to avoid burdening family members. Even the most capable adult child is frequently fully committed to work and home responsibilities and may not live conveniently nearby.Also see the C2it Care Directory under Resources.
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