Trustees

A trustee is a person who safeguards the assets or property of a trustor for the benefit of a third party who is the beneficiary. In law, a trustee is someone who has the legal authority to manage money or property on behalf of another person. However, the trustee, the trustor, and the beneficiary may be the same person or multiple persons. A trustee can also be a member of a group of people, known as a board of trustees, which is responsible for managing the financial affairs of an institution or organization. The first section of this entry presents specific examples of trustee appointments and their general roles. The second section reviews a trustee's fiduciary duties. The final section offers a brief history of ...