Investopedia explains 'Acceptance Of Office By Trustee'
A trustee is a person or institution who has legal title to hold property on behalf of the recipient. They act on the behalf of the beneficiary and are allowed to make decisions based on their professional criteria and best judgment.
Once they accept the office, many trustees serve on a voluntary basis without receiving payment for their work. Some of their duties include handling a trust's affairs, ensuring that it is solvent and well managed, and delivering the outcomes and benefits that were originally set out for the trust. Trustees also prepare reports on the trusts and make sure that the trust complies with the law, among many other responsibilities.
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