Trustee

Trustee,

Definition of Trustee:

  1. Person or organization (such as a trust company) named in trust agreement by the trustor or a court (the first party) as a trusted third party to nominally own, and protect and handle, trust-property for the benefit of one or more beneficiaries (the second party) in accordance with the terms of the trust agreement. He or she is usually charged with investing trust property prudently and productively, and (unless specifically prohibited) can lease, mortgage, or sell it if deemed necessary in fulfillment of the trusts objectives. A trustee can be removed and replaced on court orders but, after accepting trusteeship, he or she may not delegate, renounce, or resign his or her responsibility unless an acceptable successor consents as being the replacement. The capacity to be a trustee exists only where there is a capacity to hold or take property, therefore a minor or a person of unsound mind is not acceptable as a trustee. The maker of a trust (trustor) may also be its trustee and/or its beneficiary, but a sole trustee cannot be a sole beneficiary. Although a trustee is legally barred from benefiting from the trusteeship, usually a compensation is allowed in the trust agreement. But he or she cannot commingle personal funds that of the trust and cannot enter into any transaction with the trust. Otherwise the statute of frauds is applied and the fairness or the good-faith nature of the transaction is generally not accepted as a defense. A trustee may also have reporting requirements on the activities and status of the trust and all correspondence regarding the assets is directed to the trustee. He or she is discharged of the duties of the trusteeship only when the intention or the purpose of the trust is fulfilled.

  2. An individual person or member of a board given control or powers of administration of property in trust with a legal obligation to administer it solely for the purposes specified.

Synonyms of Trustee

Administrator, Agent, Accepter, Accountant, Acquirer, Addressee, Audience, Auditor, Beholder, Bookkeeper, Bursar, Cashier, Cashkeeper, Chamberlain, Comptroller, Consignee, Controller, Curator, Depositary, Depository, Fiduciary, Financial officer, Getter, Hearer, Holder, Liquidator, Listener, Looker, Obtainer, Payee, Paymaster, Procurer, Purse bearer, Purser, Receiver, Recipient, Spectator, Steward, Taker, Treasurer, Viewer

How to use Trustee in a sentence?

  1. Since the children are under age and are the sole beneficiaries of their fathers estate, a trustee was named to administer the estate until the children turn 21, which is the legal age of reason.
  2. When it came to appointing a trustee to the high-finance case, the court had several options to choose from and trusted each of them implicitly.
  3. I am listed as the trustee for my mothers estate and intend to fulfill my fiduciary responsibilities when she has passed away.
  4. Lawyers and trustees have statutory and other legal obligations but are still fiduciaries.

Meaning of Trustee & Trustee Definition

Trustee,

What Does Trustee Mean?

  • The one who has to manage someone's property.

  • The definition of Trustee is: A trustee is a person or company that owns and manages property or assets for the benefit of others. Numerous people can be assigned to different purposes, such as: B, bankruptcy, charities, trust funds or certain types of pension or retirement plans. Trustees are trusted to make decisions in the best interests of the beneficiaries and often have responsibilities, which means they work in the best interests of the trustee to manage their assets.

    • A trustee is a person or company that owns and manages property or assets for the benefit of others.
    • Multiple individuals can be assigned to different purposes, such as bankruptcy, charity or trust funds.
    • The trustee has a responsibility to make decisions in the best interests of the beneficiary and the beneficiary of the fund.

  • A person or organization legally responsible for managing financial matters or another person or company.

  • This person has been nominated to handle and protect the trust's assets.

Meanings of Trustee

  1. Individuals or members of the board of directors are accused of managing or seizing trust assets and are legally required to manage them only for specific purposes.

Sentences of Trustee

  1. Lawyers and guardians have legal and other responsibilities, but they are always guardians.

Trustee,

Trustee: What is the Meaning of Trustee?

  1. The definition of Trustee is: 1. The organization or individual responsible for one or more accounts. 2. The person who, as the administrator of the mutual fund, is primarily responsible for the work of the mutual fund.

  2. An individual or legal entity, such as a bank, trust company or other organization responsible for protecting and safeguarding trust assets. There may be other tasks for the administrator, such as investment management. The controlling trustee is responsible for the custody of the trust's assets, but has no discretionary power or authority to manage investments in these assets.

  3. Meaning of Trustee: The person who has legal rights and administrative authority over the assets given to the trust.

  4. The definition of Trustee is: See: Confidence

  5. The person or company responsible for ensuring compliance with the rules of trust deed. Trustees are generally responsible for the management of the pension scheme and are subject to the Trust Deed, the applicable Trust Act and the SIS Act.

  6. Individuals who have legal property rights for the benefit of others or to ensure the fulfillment of an obligation.

Trustee,

What is The Definition of Trustee?

  1. The person or entity that manages the assets of the trust.

Trustee,

What is The Definition of Trustee?

Trustee

Definition of Trustee: Someone's destiny is to manage someone else's property.

A trustee is a person or company that owns and manages a property for the benefit of others. Trustees can be appointed for a variety of purposes, such as bankruptcy, charity, trust, or certain types of pension or retirement plans. Trustees are trusted to make decisions in the best interest of the beneficiary and often have responsibilities, which means they work in the best interest of the beneficiary to manage their property.

  • A trustee is a person or company that owns and manages a property for the benefit of others.
  • Trustees can be appointed for a variety of purposes, such as bankruptcy, charitable or initial trust.
  • The trustee has a responsibility to make decisions in the best interest of the beneficiary and it is the responsibility of the beneficiary of the fund.

You can define Trustee as, Individuals or legal entities are legally responsible for managing the financial affairs of other individuals or companies.

Trustee means: Nominee for the management and protection of trust assets.

Meanings of Trustee

  1. An individual or director who has control or authority to manage trust assets and is required by law to manage them only for specific purposes.

  2. Countries that are accountable to the government of a region through the United Nations.

Sentences of Trustee

  1. Pension Fund Curator

Synonyms of Trustee

custodian, executor, feoffee, executrix

Trustee,

Trustee: What is the Meaning of Trustee?

Trustee means, Margorita is a Certified Financial Planner (CFP®), Certified Retirement Planning Advisor (CRPC®), Certified Retirement Income Professional (RICP®) and Certified Socially Responsible Investment Adviser (CSRIC). She has worked in the financial planning industry for over 20 years and spends her days helping her clients with clarity, confidence and control over their financial lives.

  • A trustee is a person or company that owns and manages a property for the benefit of others.
  • Trustees can be appointed for a variety of purposes, such as bankruptcy, a charity, or a primary trust.
  • The trustee has a responsibility to make decisions in the best interest of the beneficiary and there is a real responsibility for the beneficiary of his fund.

A simple definition of Trustee is: 1. The organization or individual is responsible for one or more accounts. 2. As a member of the Board of Directors, the individual is primarily responsible for the activities of the company.

An individual or legal entity, such as a bank, trust company or similar, responsible for the protection and custody of a trust. The administrator may have other tasks such as managing the investment. A trustee acting as an organized trustee is responsible for the custody of the trust, but does not have discretionary investment management functions or authority over the ATS.

The person or company responsible for ensuring that the rules of trust deed are followed. Trustees are generally responsible for managing the pension plan and are subject to trust deeds, applicable trust rules and the SIS Act.

Meanings of Trustee

  1. An individual or director who has the control or authority to manage trust assets and to manage them by law for specific purposes only.