A trustee is a person or firm that holds or administers property or assets for the benefit of a third party.
 | | Trustee | | A trustee is a person or firm that holds and administers property or assets for the benefit of a third party. A trustee may be appointed for a wide variety of purposes, such as in the case of bankruptcy, for a charity, for a trust fund or for certain types of retirement plans or pensions. Trustees are trusted to make decisions in the beneficiary's best interests and often have a fiduciary responsibility to the trust beneficiaries. | | Breaking it Down: | | A trustee is any type of person or organization that holds the legal title of an asset or group of assets for... | | Read More » | | Trust | | A trust is a fiduciary relationship in which the trustor gives the trustee the right to hold title to property or assets for the beneficiary. | | Read More » | | | Incorporated Trustee | | An incorporated trustee is a corporation, usually a trust company, which is named as the trustee of a private trust or other fiduciary account. | | Read More » | | | Active Trust | | An active trust is a trust in which the trustee is required to perform extra duties other than simply caring for a distributing property. | | Read More » | | | | | | CONNECT WITH INVESTOPEDIA | | | | | | | |
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