A trustee is business or a person who is in charge of one or more accounts. The term trustee also refers to a member of the board of trustees who is ultimately in charge of the operations of a fund.
Overview
A trustee is an individual or organization that manages or controls assets or property for the benefit of another party.
Many situations call for the appointment of a trustee, including bankruptcy, charitable giving, and the management of trust funds.
When making decisions, a trustee is bound by fiduciary duty to act in the best interests of the trust's beneficiaries.