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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 is defined by the Internal Revenue Service as any person in a position of. confidence acting on behalf of any other person. A fiduciary assumes the powers, rights, duties and privileges of the person or entity on whose behalf he is acting. According to Indiana Code 6-3-1-7, âfiduciaryâ means any guardian, trustee, executor, administrator, receiver, conservator, or any person, whether individual or corporate,