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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
DEFINITION of 'Fiduciary'. 1. A person legally appointed and authorized to hold assets in trust for another person. The fiduciary manages the assets for the benefit of the other person rather than for his or her own profit. 2. A loan made on trust rather than against some security or asset.