What Are the Duties and Responsibilities of a Trustee? A trustee operates under strict legal duties known as fiduciary obligations The duty of loyalty requires a trustee to act solely in the beneficiaries’ best interests, never for personal gain or third-party benefit
Trustee - Wikipedia A trustee carries the fiduciary responsibility and liability to use the trust assets according to the provisions of the trust instrument (and often regardless of their own or the beneficiaries' wishes) The trustee may find himself liable to claimants, prospective beneficiaries, or third parties
What is a Trustee and What do They do? - LegalZoom The trustee plays a crucial role in the management and distribution of a trust Find out what the trustee's responsibilities are and how to choose one
What Is a Trustee? - FindLaw A trustee is a person who manages a trust on behalf of the grantor and for the best interest of the beneficiaries Trustees have a fiduciary duty or legal obligation to make decisions in the best interest of the beneficiaries
What Is a Trustee? - The Motley Fool A trustee is an individual or entity with a fiduciary role who’s appointed to manage property for the benefit of a third party