What is a fiduciary?

A fiduciary is someone legally required to act in another person's best interest rather than their own. In estate planning, your executor, trustee, and power of attorney agent are all fiduciaries, meaning they must handle your affairs honestly and carefully. They can be held accountable if they misuse funds or act selfishly. Choosing trustworthy fiduciaries is one of the most important parts of building a solid plan.