trustee


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Related to trustee: Public trustee

Trustee

Agent of a bond issuer who handles the administrative aspects of a loan and ensures that the borrower complies with the terms of the bond indenture.

Trustee

1. The individual or company who manages assets in a trust on behalf of the beneficiary.

2. More generally, any individual or company who manages assets on behalf of another. For example, a bank may hire a trustee to distribute funds from a loan to the borrower.

In both cases, the trustee has a fiduciary responsibility to act on behalf of the beneficiary or client, rather than in his/her own interests.

trustee

An appointed person or institution that manages assets for the benefit of someone else. Trustees are most often trust corporations or trust departments of commercial banks that manage the assets for a fee based on a percentage of the size of the trust (usually under 1%). A trust may be very restrictive or it may allow the trustee wide discretion, depending upon the grantor's wishes.

Trustee.

A trustee is a person or institution appointed to manage assets for someone else's benefit.

For example, a trustee may be responsible for money you have transferred to a trust, or money in certain retirement accounts.

Trustees are entitled to collect a fee for their work, often a percentage of the value of the amount in trust. In turn, they are responsible for managing the assets in the best interests of the beneficiary of the trust. That's known as fiduciary responsibility.

trustee

see TRUST.

trustee

see TRUST.
References in periodicals archive ?
In the current financial environment of low dividend and interest rates, a trustee who favors income beneficiaries under the traditional allocation approach will hold fixed income securities and thus sacrifice asset appreciation potential.
As you talk with a corporate trustee and learn more about how they can serve trusts and their beneficiary, it is certain that their competence and care as a trustee will become convincingly apparent to you.
and no contact was ever made with the trustees of the Historical Commission until well after the PSSC Report was adopted in February 1995.
One strength of Holmes's discussion is his recognition in the first chapter that trustees have power and that "this power is the source of potential ethical conflicts" (p.
The library trustee meets the needs of the people served by the library.
We know the work of trustees is crucial to the success of their charities, and they often bear a considerable load.
As for who the trustees will be, O'Connell said they will look for people who ``are familiar with these types of schools, people with experience, to make recommendations, improve student achievement and change the culture at these challenging schools.
A recent survey of professional trustees conducted by Eversheds Sutherland, has overwhelmingly concluded (71%) that a professional body is now required to set standards and oversee the performance of professional trustees.
Section 702 of the Bankruptcy Code, entitled "Election of trustee," provides in relevant part that (i) a trustee may be "elected" during a meeting of creditors held under Section 341, and that (ii) if a trustee is not elected under Section 702, then "the interim trustee shall serve as the trustee in the case"
Trustee investment duties When trustees invest assets, they are under a duty to take such care as an ordinary prudent man would take if he was making an investment for the benefit of others for whom he felt morally bound to provide.
For example, declining to make payments for a beneficiary simply because the Trustee doesn't like the beneficiary is not acting in "good faith.
Hampshire, a member of the Five College consortium that includes Amherst, Mount Holyoke, Smith, and the University of Massachusetts Amherst, has long had an elected student trustee and an elected faculty trustee, but the elected staff trustee position is still a rarity.