Four Key Duties of a Fiduciary: Difference between revisions
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===Avoid conflicts of interest=== | ===Avoid conflicts of interest=== | ||
A '''conflict of interest''' | |||
A '''conflict of interest''' is a situation in which you have competing interests or loyalties. Where you make a decision about Martina's property that benefits you or someone else at Martina's expense, you are in a conflict of interest. As a fiduciary, you have a strict duty to avoid conflicts of interest. You should avoid even the appearance of a conflict of interest. | |||
Here are a couple of common examples of possible conflicts of interest. | Here are a couple of common examples of possible conflicts of interest. | ||
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| text = Because you are now a fiduciary, you should avoid any conflicts of interest. Sometimes people have good intentions, but do things they shouldn’t. As a fiduciary, you have a duty to avoid making decisions about Martina’s property that may benefit someone else at Martina’s expense. | | text = Because you are now a fiduciary, you should avoid any conflicts of interest. Sometimes people have good intentions, but do things they shouldn’t. As a fiduciary, you have a duty to avoid making decisions about Martina’s property that may benefit someone else at Martina’s expense. | ||
}} | }} | ||