trustee

Definition

An individual or organization which holds or manages and invests assets for the benefit of another. The trustee is legally obliged to make all trust-related decisions with the beneficiary's interests in mind, and may be liable for damages in the event of not doing so. Trustees may be entitled to a payment for their services, if specified in the trust deed. In the specific case of the bond market, a trustee administers a bond issue for a borrower, and ensures that the issuer meets all the terms and conditions associated with the borrowing.

Use trustee in a sentence

Jane's trustee at the accounting firm invested her money so wisely that she had enough in her IRA to retire at age 55.

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The trustee in the bankruptcy case was in charge of distributing the remaining assets from the estate after liabilities were paid.

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After my father sold his company for millions of dollars, he decided to make sure some of the money would be kept safe for my mother and put it in the care of a trustee to invest it for her.

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fiduciary bond administrator