True or false: It is commonly acceptable for a fiduciary to buy or use a client's property for personal use.

The assertion that it is commonly acceptable for a fiduciary to buy or use a client's property for personal use is false. A fiduciary has a legal and ethical obligation to act in the best interests of their client, prioritizing the client's welfare and financial interests above their own. This duty of care and loyalty requires fiduciaries to avoid any situation where their interests could conflict with those of the client.

Using a client's property for personal use without explicit permission violates this fundamental principle of fiduciary responsibility. It can lead to a breach of trust and may result in legal consequences for the fiduciary, including potential damages or disciplinary actions. The relationship between a fiduciary and a client is designed to ensure that clients can rely on fiduciaries to manage their affairs with integrity and transparency, thereby preventing any misuse of the client's resources.

While there may be exceptional circumstances where such a transaction could occur—with full disclosure and explicit client consent—that generally does not make it acceptable as a common practice. The ethical framework in which fiduciaries operate focuses heavily on safeguarding the interests of clients without self-serving motivations or actions.