Trustee - Wikipedia A trustee carries the fiduciary responsibility and liability to use the trust assets according to the provisions of the trust instrument (and often regardless of their own or the beneficiaries' wishes) The trustee may find himself liable to claimants, prospective beneficiaries, or third parties
What is a Trustee and What do They do? - LegalZoom The trustee plays a crucial role in the management and distribution of a trust Find out what the trustee's responsibilities are and how to choose one
Estates and trusts | FTB. ca. gov - Franchise Tax Board A trust is an agreement to hold and administer property, typically in a written document in which someone (a trustee) is responsible for managing property for someone else (beneficiary)
What Are the Duties and Responsibilities of a Trustee? A trustee operates under strict legal duties known as fiduciary obligations The duty of loyalty requires a trustee to act solely in the beneficiaries’ best interests, never for personal gain or third-party benefit
Trustee of a Trust | Definition, Duties, How to Choose One A trustee is an individual or organization responsible for managing the assets placed in a trust The trustee performs this role on behalf of a grantor, the person who created and funded the trust
TRUSTEE Definition Meaning - Merriam-Webster The meaning of TRUSTEE is a natural or legal person to whom property is legally committed to be administered for the benefit of a beneficiary (such as a person or a charitable organization)