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Successor Fiduciary Law and Legal Definition. Successor fiduciary is the next person or organization appointed when a vacancy arises in a conservatorship or guardianship. The vacancy may arise due to aguardianâs death, removal, or resignation. Legal Definition list
A fiduciary duty is the obligation to act in the best interests of another party in financial matters. The members of a company board, for example, should act in the interests of the shareholders, whom they represent. The manager of a family trust has the obligation to work in the best interests of the family, who as clients are trusting him to carry out needed transactions and legal obligations.