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Freebase Commons Common /common

  • Trustee is a legal term which, in its broadest sense, can refer to any person who holds property, authority, or a position of trust or responsibility for the benefit of another, also a trustee can be a person who is allowed to do certain tasks but not able to gain income. Although the strictest sense of the term is the holder of property on behalf of a beneficiary, the more expansive sense encompasses persons who serve, for example, on the Board of Trustees for an institution that operates for the benefit of the general public. Also a person in the local government. A trust can be set up either to benefit particular persons, or for any charitable purposes: typical examples are a will trust for the testator's children and family, a pension trust and a charitable trust. In all cases, the trustee may be a person or company, whether or not they are a prospective beneficiary.

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