A trustee is a person or institution that oversees and manages a trust. There are professional trustees who’s career revolves around managing trusts.
Trustees are important
Trustees are important because they control the trust including any distributions that are made from the trust. If a trust has a trustee and a beneciary wants money from the trust, they would haveto ask the trustee to make a distribution.
A trustee has a feduciary responsibility to the trust
The trustee is mandated by law to do what is best on behalf of the trust and it’s trustees which can mean balancing multiple different trustees and interests.« Back to Glossary Index