trustee

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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 ?
The Question: Does ERISA shield co-trustees from liability if a pension fund's board of trustees does not question the investments made or the methods of allocation until after the fund suffered losses?
c) innocent co-trustees are entitled to be indemnified by their fraudulent cotrustees ('single fraudulent wrongdoer rule'); (50) and
Also, having co-trustees usually means having each of them sign every piece of paper or document affecting the trust.
A potential compromise is for the grantor to be co-trustee.
Mr Williams said the most serious aspect of the case involved a trust fund of which Ms Cheong was co-trustee.
A Blended Approach with an Independent Trustee as Either a Successor Trustee or an Originally Appointed Co-Trustee
in no event may a co-trustee who is also a beneficiary be permitted to make decisions regarding discretionary distributions from the trust.
In particular, LFC and Robert Lawson hid from the bond purchasers that Robert Lawson, in his role as co-trustee of the charitable trust account, and with the knowledge of his wife, was transferring those millions from the charitable remainder trust account to various parties associated with the bond borrowers when the borrowers couldn't pay their operating expenses and, for certain of the bonds, couldn't make the required interest payments on the bonds.
10) However, the Treasury Regulations provide that a gift will not be complete for gift tax purposes if certain powers are retained by the settlor as a trustee, or in some situations as a co-trustee, until the retained interest or power is relinquished.
The independent trustee could act as the sole trustee, or, if the couple wishes to retain more control, the independent trustee could instead act as a co-trustee with the beneficiary.
Yukio Sakamoto, co-trustee of Elpida, also welcomed the agreement, saying it would ensure creditors repayment and will help simplify approval for Elpidaa[euro](tm)s reorganisation by creditors and the Tokyo court.
Use of an institutional trustee together with an individual co-trustee who is either a family member or friend will avoid the undue pressure that can be placed on an individual trustee by beneficiaries demanding distributions that are inconsistent with trust objectives.