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 ?
Although exculpatory clauses may help certain trustees avoid liability for a breach of trust, it's unlikely that an exculpatory clause will avoid the removal of a negligent trustee.
Hickey, COA, CODA, Munroe Falls, OH, continues as trustee.
The bank owed the beneficiaries a duty of loyalty as a trustee and was required to administer the trust solely in the interest of the beneficiaries.
However, it should also be remembered that a professional trustee is normally just one of many trustees on a trustee board and their influence on the board will inevitably vary from scheme to scheme.
B) 1 year after the appointment or election of the first trustee under Section 702, 1104, 1163, 1202, or 1302 of this title if such appointment or such election occurs before the expiration of the period specified in subparagraph (A); or
States have different laws about which court should have jurisdiction to hear complaints about the Trustee or requests that the Trustee "account" for his, her, or its actions.
Antelope Valley High and two other schools were assigned trustees, who will have authority to overrule administrators' decisions.
Today's hospital board of trustees faces unprecedented challenges in the areas of quality, care delivery, financing, physician relations and information technology.
One of the most welcome changes allows a trustee to include capital gain from an asset or class of assets in DNI if he or she has express authority, under either local law or the governing instrument, to (1) distribute principal and (2) deem those distributions as made from capital gain.
If the trust were a unitrust with a $1 million value and a 5 percent payout rate, the trustee would distribute $50,000 to the beneficiary as trust income, even if it required asset sales, thus allocating some of the capital gain as income.
She was quoted in the Kitchener Record as saying that the nurses would stay out of the schools until the Administration and trustees made it clear what it was they were to teach.