Trustee
Definition of 'Trustee'A person or firm that holds or 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, a trust fund or for certain types of retirement plans or pensions. They are trusted to make decisions in the beneficiary's best interests. |
|
Investopedia explains 'Trustee'A trustee is required to uphold a strong level of integrity and impartiality in conducting its duties. Typically, a trustee is not permitted to benefit or profit from its position unless the trust document specifically allows for payments to the trustee for providing services. Often, a trustee may have a fiduciary responsibility to the trust beneficiaries. |
Related Definitions
Articles Of Interest
-
Can You Trust Your Trustee?
Ignorance and incompetence can cost you money. Make sure your trustee is up to the task. -
How To Avoid Taxation On Life Insurance Proceeds
Decrease the value of your taxable estate and prevent the tax man from getting you one last time. -
Encouraging Good Habits With An Incentive Trust
Money can be a powerful motivator - why not use it to teach your heirs positive lessons? -
Establishing A Revocable Living Trust
This arrangement allows you to have more control over your estate - both before and after your death. -
Saving Money With A Private Annuity Trust
Learn about a strategy that could help you reduce taxes, diversify your portfolio and generate income. -
Should You Put Your Faith In A Trust?
Many institutions want a piece of your portfolio, but trusts can provide a one-stop shop. -
What is a good book on creating a trust that would qualify as the beneficiary for an IRA?
"Life And Death Planning For Retirement Benefits" has all you need and more. If you read this book, you won't need any luck.To learn more about designating a beneficiary, check out Who Is The ... -
If a trust is named as the beneficiary of an IRA, can the trustee of that trust become the beneficiary without the IRA owner signing the Change of Beneficiary form?
While the IRA owner is alive, only the IRA owner can change the designated beneficiary of the IRA. Exceptions may apply if there is an attorney-in-fact, in which a power of attorney includes ... -
Estate Planning Basics
Deciding what will happen to your assets when you pass away is a must - no matter how wealthy you are. -
Why You Shouldn't Die In 2013
Increases in estate tax rates and possible fiscal cliff implications will make things more difficult when it comes to arrangements for your death.
Free Annual Reports