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 various purposes, such as bankruptcy, certain types of retirement plans, or to manage assets for somone.

Related Terms

  • Testamentary Trust

  • Special Needs Trust

  • Revocable Trust

  • Qualified Terminable Interest Property (QTIP) Trust

  • Living Trust

  • Irrevocable Trust

  • Insurance Trust (ILIT)

  • Grantor

  • Generation-Skipping Trust (GST)

  • Credit Shelter Trust (CST)

  • Charitable Remainder Unitrust (CRUT)

  • Charitable Remainder Trust

  • Blind Trust

  • Asset Protection Trust (APT)