Legal Definitions - fiducial relationship

Definition: A fiducial relationship is a type of association between two or more people that involves a high level of trust and responsibility. It is a legally recognized relationship that affects the legal rights and duties of those involved.

Examples of fiducial relationships include:

• Attorney-client relationship: This is a formal legal representation of a person by a lawyer. The lawyer has a duty to act in the best interest of the client and maintain confidentiality.
• Doctor-patient relationship: This is the association between a medical provider and a patient. The doctor has a duty to ensure that the patient gives informed consent for treatment.
• Trustee-beneficiary relationship: This is a relationship in which one person (the trustee) is responsible for managing assets for the benefit of another person (the beneficiary).
• Guardian-ward relationship: This is a relationship in which one person (the guardian) is responsible for the care and well-being of another person (the ward), such as a minor or an incapacitated adult.

These examples illustrate how a fiducial relationship involves a high level of trust and responsibility. The person in the fiduciary role has a duty to act in the best interest of the other person and maintain confidentiality. This type of relationship is legally recognized and can affect the legal rights and duties of those involved.