Just left the courthouse. Opened an estate for mom. Gotta pay off who we owe. Mom, a Republican, would have it no other way. Pay as you go, you know. I still can't believe she's gone. I was her son. I am now a fiduciary.
According to Black's Law Dictionary, Fifth Edition, a fiduciary is as follows:
The term is derived from the Roman law, and means (as a noun) a person holding the character of a trustee, or a character analogous to that of a trustee, in respect to the trust and confidence involved in it and the scrupulous good faith and candor which it requires. A person having duty, created by his undertaking, to act primarily for another's benefit in matters connected with such undertaking. As an adjective it means of the nature of a trust; having the characteristics of a trust; analogous to a trust; relating to or founded upon a trust or confidence.
A person or institution who manages money or property for another and who must exercise a standard of care in such management activity imposed by law or contract; e.g. executor of estate, receiver in bankrupty; trustee. A trustee, for example, possesses a fiduciary responsibility to the beneficiaries of the trust to follow the terms of the trust and the requirements of applicable state law. A breach of fiduciary responsibility would make the trustee liable to the beneficiaries for any damage caused by such breach.
The status of being a fiduciary gives rise to certain legal incidents and obligations, including the prohibition against investing the money or property in investments which are speculative or otherwise imprudent.
As per Black's Law Dictionary, definition of Fiduciary bond:
Type of surety bond required by court to be filed by trustees, administrators, executors, guardians, and conservators to insure proper performance of their duties.
As per Black's, definition of Fiduciary capacity:
One is said to act in a 'fiduciary capacity' or to receive money or contract a debt in such capacity when the business which he transacts, or the money or property which he handles, is not his own or for his own benefit, but for the benefit of another person, as to whom he stands in a relation implying and necessitating great confidence and trust on the one part and a high degree of good faith on the other part. The term is not restricted to technical or express trusts, but includes also such offices or relations as those of an attorney at law, a guardian, executor, or broker, a director of a corporation, and a public officer.
Now............. as recent events have proved, it's apparently all about money and power. Our government bailed out the banks/perps, insurance companies, auto companies, initially turned a blind eye to huge bonuses, SEC asleep at the wheel, on and on and on.
So, (as they say in business: "business is business, nothing personal") why not look at local, state, and federal governments as fiduciaries?
The Public Duty Doctrine states that government and its agents (law enforcement) have no legal duty to protect; they cannot be held liable for failure to protect because there was no legal duty to protect in the first place. There is a conspiracy of silence to keep this from public knowledge.
American law enforcement is huge, consume untold amounts of money to operate, and are fiduciaries, of a sort, in the budgeting and managing of our tax dollars.
Do you know how the fed finally got Al Capone? Tax fraud.
Do you know how local, state, and federal governments might eventually be forced to disclose The Public Duty Doctrine, this most vital of information, to the public? Through the Almighty Dollar. Tie mandatory disclosure of The Public Duty Doctrine to annual law enforcement budgets.
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