Which term describes the person who is responsible for the property or assets of another person?

• A. Personal memorandum
• B. Mortgage
• C. Fiduciary
• D. Executor

Answer: (C)

Fiduciary describes a person who has a legal duty to manage someone else’s property or assets. That duty requires acting with loyalty, care, and in good faith, putting the other person’s interests first and handling assets prudently. In estate planning, fiduciaries include trustees, executors, guardians, and agents under a power of attorney. This term is the best fit because it names the relationship and obligation, not a document or a loan. A personal memorandum is just a note, a mortgage is a loan secured by property, and an executor is a specific fiduciary role within an estate, but the broader term that covers anyone who manages another’s assets is fiduciary.