Examples of trustee in a Sentence
They were named as trustees to the child's estate.
the museum's board of trustees
Recent Examples of trustee from the Web
Dan Jones, trustee of the Historic Wauwatosa Cemetery Board, prepared the application for consideration.
The Montserrat College of Art board of trustees named the Framingham resident to the post effective July 1.
Under the plan, GCU will become a non-profit university governed by an independent board of trustees.
The same year he was hired by the board of trustees of the Houston Independent School District to run its schools, which serve some 215,000 students, the vast majority of whom are Hispanic or black.
Cipolletti was also served as a trustee of the Cleveland Heights High School Alumni Foundation for over 12 years.
Marathon Scholars welcomes three new members to the board of trustees: Deniz Tasdemir-Conger - fund development professional with Cascadia Behavioral Healthcare.
Within hours of John's death, after calling her family and Juan Alvarez, the trustee of Boracayan, Ann was rushed to the hospital.
Next week, the faculty will decide on a vote of no-confidence in the board of trustees.
These example sentences are selected automatically from various online news sources to reflect current usage of the word 'trustee.' Views expressed in the examples do not represent the opinion of Merriam-Webster or its editors. Send us feedback.
First Known Use of trustee
First Known Use of trustee
Financial Definition of TRUSTEE
What It Is
A trustee holds or manages cash, assets or a property title for a beneficiary. The trustee has a fiduciary duty to act in the best interest of the beneficiary.
Trustees play an important role for businesses and individuals. In many cases, trustees make sure that assets held on behalf of individuals or companies are not misused.
How It Works
Let's assume Company XYZ issues $100 million of bonds. Company XYZ will appoint a trustee, usually a bank, to act on behalf of the bondholders. The trustee maintains lists of the bondholders in addition to receiving and distributing interest payments. The trustee also monitors Company XYZ's compliance with the agreements and communicates with the bondholders when the issuer is not in compliance.
Why It Matters
In our example, the trustee is effectively the go-between for Company XYZ and the bondholders (but its allegiance is to the bondholders), and the trustee receives a fee from Company XYZ for performing this role. The presence of a trustee also gives Company XYZ a single point of contact for the bondholders and eliminates a considerable amount of administrative work for Company XYZ.
As mentioned earlier, the trustee's job is to act in the best interests of the beneficiary. This responsitrusteelity is called fiduciary duty, and the trustee is legally obligated to uphold this duty. If the trustee fails to do so, they could be legally liable for damages.
TRUSTEE Defined for English Language Learners
Definition of trustee for English Language Learners
: a person or organization that has been given responsibility for managing someone else's property or money through a trust
: a member of a group that manages the money of an organization
TRUSTEE Defined for Kids
legal Definition of trustee
Seen and Heard
What made you want to look up trustee? Please tell us where you read or heard it (including the quote, if possible).