Someone who is given the legal responsibility to hold and/or control any assets/estate of one person (e.g. a deceased person or a Trust) for another person (e.g. the beneficiary of a Trust or a deceased estate). Trustees normally have powers to distribute monies and can have full power to sell and invest.
A Trustee will also be appointed over the estate of a natural person when that person is insolvent and is sequestrated.« Back to Glossary Index