Trusteeing: meaning, definitions and examples
๐ค
trusteeing
[ trสหstiห ]
legal role
A trustee is an individual or organization that holds and manages assets or property for the benefit of another party, known as the beneficiary. This legal role involves a fiduciary responsibility to act in the best interests of the beneficiary, which often includes handling investments, distributing income, and maintaining property. The trustee must adhere to legal standards and ethical guidelines to ensure proper management of the assets they oversee.
Synonyms
administrator, executor, fiduciary.
Examples of usage
- The trustee has a duty to manage the funds responsibly.
- After the founder's passing, a trustee was appointed to oversee the foundation.
- The trustee must ensure that all beneficiaries receive their rightful shares.
Translations
Translations of the word "trusteeing" in other languages:
๐ต๐น administrar
๐ฎ๐ณ เคเฅเคฐเคธเฅเคเฅ
๐ฉ๐ช Treuhรคnderschaft
๐ฎ๐ฉ pengelolaan
๐บ๐ฆ ะดะพะฒััะธัะตะปั
๐ต๐ฑ zarzฤ dzanie
๐ฏ๐ต ๅ่จ่
๐ซ๐ท fiduciaire
๐ช๐ธ fideicomisario
๐น๐ท trustee
๐ฐ๐ท ์ ํ ๊ด๋ฆฌ
๐ธ๐ฆ ุฃู ูู
๐จ๐ฟ sprรกvce
๐ธ๐ฐ sprรกvca
๐จ๐ณ ๅๆไบบ
๐ธ๐ฎ skrbnik
๐ฎ๐ธ traust
๐ฐ๐ฟ ัะตะฝัะผะณะตั
๐ฌ๐ช แแแแคแฃแซแแแแแแ
๐ฆ๐ฟ etimad
๐ฒ๐ฝ fiduciario
Etymology
The term 'trustee' originates from the Middle English word 'trustee', which in turn comes from the Latin word 'trustis', meaning 'to rely on or to confide in'. It reflects a relationship built on trust, where one party is entrusted with the management of another's assets. This concept has existed since ancient times, with various legal systems recognizing the role of a trustee in managing estates, ensuring that assets are used according to the original intent of their owners. Over the centuries, as societies evolved, so did the legal definitions and responsibilities associated with trusteeship, becoming formalized in modern law.