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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
The fiduciary as personal representative is an individual appointed by the probate court to administer the estate of a person who has died, referred to as a âdecedent.â A personal representative will either act as an Executor if named in the will, or as an Administrator if not named in the will, or if there is no will. fiduciary is a person who assumes responsibility for a position of trust. Fiduciaries serve by court appointment as guardians, conservators and personal representatives of estates. They also serve by agreement when engaged by a private family as trustees, representative payees.