See Adams v . Avondale Industries, Inc ., 905 F . 2d 943, 947 ( CA6 1990 ) ( " ( A ) company does not act in a fiduciary capacity when deciding to amend or terminate a welfare benefits plan " ).
12.
For example, in most offshore jurisdictions, a person needs a licence to act as a trustee, whereas ( for example ) in the United Kingdom and the United States, there are no restrictions or regulations as to who may serve in a fiduciary capacity.
13.
Said Brian Bixby, an experienced probate lawyer, " There certainly should be a prohibition in the Commonwealth of Massachusetts against a convicted felon of any type serving in a fiduciary capacity, such as an executor who has . . . complete control over money ."
14.
The term in the United States is most often used to describe the business activities of many financial services companies and banks that act in a fiduciary capacity for investors in a particular security ( i . e . stock investors or bond investors ).
15.
Under United States estate tax provision, " devolution " may occur when a deceased obtains " incidents of ownership " under the Estate Tax Regulation 20.2042-1 ( c ) 2 in a fiduciary capacity from an independent transaction creating a trust for benefit of another party.
16.
This is said to derive from the equitable doctrine whereby directors, though not trustees, are held to act in a fiduciary capacity, and as such are not entitled to receive remuneration for services rendered to the company except as provided under the articles of association, which are treated as equivalent to a trust deed constituting a trust.
17.
This can serve to protect both parties in the event of a future disagreement, as long as they have respectively adhered to the content of the IPS . A properly written investment policy statement can be critical in minimizing the legal liability of those serving in a fiduciary capacity ( e . g ., qualified plan trustees and trustees of irrevocable trusts, endowments, foundations and charitable trusts ).
