The intentional, illegal use of the property or funds of another person for one’s own use or another unauthorized purpose, particularly by any person with a responsibility to care for and protect another’s assets (a fiduciary duty).
Power of Attorney
A written document in which one person (the principal) appoints another person to act as an agent on his or her behalf, thus conferring authority on the agent to perform certain acts or functions on behalf of the principal. The certain acts may include signing papers, checks, title documents and contracts as well as handling bank accounts and other activities in the name of the person granting the power.
Undue Influence
The use of one’s role and power to exploit the trust, dependency and fear of another. The exploiter’s role and power are used in ways that deceive or mislead to gain control over the decision-making of the person being exploited.
Conservatorship
A conservatorship is created by the appointment of a conservator, also sometimes called a guardian. A conservator or guardian is a person or entity appointed by a court to manage the property, daily affairs, health or financial affairs of another person (called the conservatee or ward), usually someone who is legally incapacitated.
Trust
An entity created to hold assets for the benefit of certain persons or entities, with a trustee managing the trust (and often holding title on behalf of the trust).
Fiduciary