Definition, Meaning & Synonyms
trustee
noun
/trʌsˈtiː/
Definition
A trustee is an individual or organization appointed to manage assets on behalf of another party, known as the beneficiary.
Examples
- As a trustee, she had a fiduciary duty to act in the best interest of the beneficiaries.
- The charity selected a group of trustees to oversee the management of its funds.
- After his father’s passing, he became the trustee of the family estate.
Meaning
A trustee holds and manages property or assets for the benefit of someone else, ensuring that the trusts’ terms are followed.
Synonyms
- administrator
- fiduciary
- steward
- manager
- agent
