Fiduciary duties are certain duties that a person owes another person with regard to property or transactions. Trustees owe fiduciary duties to beneficiaries of a trust. An agent under a power of attorney owes fiduciary duties to the principal under the power of attorney. Examples of fiduciary duties are a duty to disclose actions, a duty to do what is best for the beneficiaries, a duty not to take actions to benefit you instead of the beneficiaries.