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Trustee: meaning, definitions and examples

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trustee

 

[trʌˈstiː ]

Definitions

Context #1 | Noun

legal

A person or organization with responsibility for managing property or funds on behalf of others. Trustees are legally obligated to act in the best interests of the beneficiaries.

Synonyms

administrator, custodian, guardian.

Which Synonym Should You Choose?

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Word Description / Examples
trustee

Refers to someone who holds and manages assets on behalf of another person, often within the context of a trust or estate. This word is commonly used in legal and financial settings.

  • The trustee is responsible for ensuring the beneficiaries receive their inheritance as stipulated in the will.
  • She was appointed as the trustee of the charitable foundation.
administrator

Denotes a person responsible for running an organization, such as a school, company, or estate, particularly focusing on the implementation of policies and managing operations.

  • The school administrator is in charge of overseeing the faculty and staff.
  • An administrator was appointed to handle the estate after the owner's death.
custodian

Refers to someone who has the responsibility of looking after or protecting something, often property or assets. This term can also apply to a person tasked with maintenance and cleaning duties in a building.

  • The custodian of the museum ensures that all artifacts are well preserved.
  • He works as a night-time custodian at the office building.
guardian

Describes a person who has the legal authority and duty to care for another person, particularly a minor or someone unable to manage their own affairs. The term is often used in familial or legal contexts.

  • After the accident, her aunt became her legal guardian.
  • Guardians are required to act in the best interests of the children in their care.

Examples of usage

  • The trustee of the trust was responsible for distributing the assets to the designated heirs.
  • She appointed her brother as the trustee of her estate.
Context #2 | Noun

organization

A member of a board who is entrusted with the oversight and management of a company, institution, or organization.

Synonyms

board member, director, governor.

Which Synonym Should You Choose?

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Word Description / Examples
trustee

Use this term when talking about someone who is responsible for managing property or assets on behalf of others, usually in a legal or fiduciary capacity.

  • The trustee ensured that the funds were used according to the donor’s wishes.
  • She was appointed as the trustee of her late uncle's estate.
director

This word is best when referring to someone who manages a particular area of an organization or holds a high-ranking executive position.

  • The marketing director is responsible for all promotional campaigns.
  • She was appointed as the finance director of the corporation.
governor

This term is most appropriately used for the formal head of a state or province, or in an educational context, such as a member of the governing body of a school.

  • The governor signed the bill into law.
  • He was recently elected as the governor of the school board.
board member

This is appropriate to use when referring to an individual on a governing body or committee that oversees the management of an organization or institution.

  • As a board member, he attends quarterly meetings to discuss the company's strategy.
  • Being a board member requires understanding the organization's financial statements.

Examples of usage

  • The board of trustees decided to invest in new technology for the company.
  • The university trustee expressed concerns about the budget cuts.

Interesting Facts

Etymology

  • The word comes from the Old French 'trustier', meaning 'to trust', reflecting the responsibility involved.
  • It has roots in the Latin word 'trustis', meaning 'a condition of trust', highlighting its foundational role in relationships.
  • The concept has evolved through legal systems over centuries, adapting from private arrangements to formal trusts.

Legal Aspects

  • Trustees have a fiduciary duty, meaning they must act in the best interests of the people they're helping.
  • Different types of trusts, like living trusts or testamentary trusts, define specific roles and responsibilities for the trustee.
  • In some cases, a trustee can be held legally accountable if they do not fulfill their duties properly.

Cultural Significance

  • In many cultures, family members often become trustees for inherited estates, emphasizing the trust placed in them.
  • The role of a trustee is often depicted in literature, showcasing themes of loyalty, betrayal, and responsibility.
  • In various community organizations, trustees manage resources, demonstrating the importance of community leadership.

Pop Culture

  • Trustees frequently appear in movies and shows as characters who have to navigate complicated family dynamics over estates.
  • Notable films, like 'The Great Gatsby', often touch on themes of wealth management and the responsibilities of caretakers.
  • Documentaries about charitable foundations often highlight the role of trustees in managing funds for social causes.

Financial Education

  • Trustees play a crucial role in estate planning, helping to ensure a person's wishes are followed after they pass away.
  • Financial literacy programs often teach about the role of trustees to help individuals understand money management better.
  • Understanding the duties of a trustee can empower individuals in choosing the right person for managing their interests.

Translations

Translations of the word "trustee" in other languages:

🇵🇹 fiduciário

🇮🇳 न्यासधारी

🇩🇪 Treuhänder

🇮🇩 wali amanat

🇺🇦 довірена особа

🇵🇱 powiernik

🇯🇵 受託者 (jutakusha)

🇫🇷 fiduciaire

🇪🇸 fiduciario

🇹🇷 mütevelli

🇰🇷 신탁 관리자 (sintak gwanrija)

🇸🇦 وصي

🇨🇿 svěřenský správce

🇸🇰 dôverník

🇨🇳 受托人 (shòutuōrén)

🇸🇮 zaupnik

🇮🇸 trúnaðarmaður

🇰🇿 сенім білдірілген тұлға

🇬🇪 რწმუნებული

🇦🇿 etibarlı şəxs

🇲🇽 fiduciario

Word Frequency Rank

Ranking #3,593, this word is part of upper-intermediate vocabulary. While not among the most basic terms, it appears often enough to be valuable for advanced communication.