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What Is a Trustee?
A trustee is the person or institution appointed to manage a trust. A trust is a legal arrangement through which a trustee holds legal title to property for another person, called a "beneficiary." The trust document will name the trustee.
Being a trustee is a big responsibility. Trustees must act in the best interests of the trust beneficiaries at all times. A trustee's duties include locating and protecting trust assets, investing assets prudently, distributing assets to beneficiaries, keeping track of income and expenditures, and filing taxes.
For an overview of a trustee's duties, click here.
For the dos and don'ts of being a trustee, click here.
For information on how to choose your trustee, click here.