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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
Successor Law and Legal Definition. 1  the successor expressly or impliedly assumes obligations of the predecessor, 2  the transaction is a de facto merger, 3  the successor is a mere continuation of the predecessor, or. 4  the transaction is a ruse to defraud the creditors and avoid liabilities of the predecessor.