New start for fool, having no legal standing (4)
I believe the answer is:
null
'having no legal standing' is the definition.
(null can mean invalid)
I don't understand how the remainder of the clue works.
(Other definitions for null that I've seen before include "Amounting to nothing" , "Lacking any legally binding force" , "Invalid - not binding" , "Not valid" , "Of no effect, value" .)