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e.g. xx holds 53 Common Shares and yy (acting in trust for her/himself and zz) holds 47 Common Shares

Can this be explained the easiest and best way possible?

2007-12-12 09:44:23 · 1 answers · asked by basport_2000 5 in Business & Finance Corporations

1 answers

It's usually a fiduciary (A person legally appointed and authorized to hold assets in trust for another person) who manages the assets for the benefit of the other person rather than for his or her own profit. Children or elderly people typically need a fiduciary. When the fiduciary holds assets in trust for his benefiary, it means he is charged with the responsibility of investing the money wisely for the beneficiary's benefit. Some examples of fiduciaries are executors of wills and estates, receivers in bankruptcy, trustees, and those who administer the assets of underaged or incompetent beneficiaries. Most U.S. States have laws about what a fiduciary may or may not do with a beneficiary's assets. For instance, it is illegal for fiduciaries to invest or misappropriate the money for their personal gain.

2007-12-15 19:36:40 · answer #1 · answered by Sandy 7 · 1 0

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