Quick Definition

A trustee is an individual or organization appointed to manage assets on behalf of a third party, typically within the context of a trust.

Examples

• 1A parent sets up a trust for their child’s education, appointing a bank as the trustee to manage and disburse funds according to the trust’s terms.
• 2An individual appoints a trusted friend as trustee to manage their estate upon their incapacity or death, ensuring their assets are distributed as intended.
• 3A charity establishes a trust to fund scholarships, with a law firm acting as trustee to oversee the fund’s management and allocation.

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