trustee

noun
trust·​ee | \ ˌtrə-ˈstē How to pronounce trustee (audio) \

Definition of trustee

 (Entry 1 of 2)

1a : a natural or legal person to whom property is legally committed to be administered for the benefit of a beneficiary (such as a person or a charitable organization)
b : one (such as a corporate director) occupying a position of trust and performing functions comparable to those of a trustee
2a : one to whom something is entrusted
b : a country charged with the supervision of a trust territory
3 : trusty

trustee

verb
trusteed; trusteeing

Definition of trustee (Entry 2 of 2)

transitive verb

: to commit to the care of a trustee

intransitive verb

: to serve as trustee

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Examples of trustee in a Sentence

Noun

They were named as trustees to the child's estate. the museum's board of trustees

Recent Examples on the Web: Noun

The nonprofit was set up in a hurry, without independent oversight, and the board of trustees included five people: Stephanie, Stephanie’s mother, their family lawyer, Antonio, and Jackson. Daniel A. Gross, The New Yorker, "The Strange Story of a Secret Literary Fellowship," 16 June 2019 Ohlone Middle School was one of three potential names the district’s board of trustees chose from following a monthslong process that involved input from the school’s students and faculty as well as the community at large. Sal Pizarro, The Mercury News, "New name, new chapter for San Jose middle school," 14 June 2019 The Spring ISD board of trustees adopted a $416 million budget on Tuesday, June 11, for the 2019-2020 year. Mayra Cruz, Houston Chronicle, "Spring ISD’s 2019-2020 budget includes teacher raises up to $3,250," 14 June 2019 The public will have a chance to react before the university's board of trustees selects a winner, probably before Thanksgiving. Blair Kamin, chicagotribune.com, "Is Northwestern’s new medical research building a world-class structure? The building, and the answer, are incomplete.," 13 June 2019 She was dropped by her book publisher and resigned from Vassar College's board of trustees after the show prompted the #CancelLindaFairstein hashtag on social media and calls for her prior cases to be re-examined. NBC News, "Central Park Five prosecutor no longer at Columbia Law School after student petition," 12 June 2019 Last month the museum happily unveiled a $10-million gift from Carolyn Powers, president of its board of trustees, to underwrite five years of free museum admission starting later this year. Christopher Knight, latimes.com, "MOCA on the rebound? Three strong shows and free entry are welcome signs of change," 12 June 2019 When the Corcoran Gallery of Art’s board of trustees met on June 12, 1989, the first order of business was a 1770 painting by John Singleton Copley. Kriston Capps, Washington Post, "A museum canceled its Robert Mapplethorpe show — and decades later, it’s finally trying to make amends," 12 June 2019 There was a petition calling for her removal from Vassar College's board of trustees, and the publisher of Fairstein's crime novels, Dutton, has dropped her. Lisa Respers France, CNN, "Central Park Five prosecutor Linda Fairstein says 'When They See Us' defames her," 11 June 2019

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.

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First Known Use of trustee

Noun

1636, in the meaning defined at sense 2a

Verb

1818, in the meaning defined at transitive sense

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Statistics for trustee

Last Updated

20 Jun 2019

Look-up Popularity

Time Traveler for trustee

The first known use of trustee was in 1636

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More Definitions for trustee

trustee

noun

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.

Companies often involve trustees in debt offerings, mergers, and other situations involving two parties, a large amount of money, and conditions under which the money moves between the parties.

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.

Source: Investing Answers

trustee

noun

English Language Learners Definition of trustee

: 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

noun
trust·​ee | \ ˌtrə-ˈstē How to pronounce trustee (audio) \

Kids Definition of trustee

: a person who has been given legal responsibility for someone else's property

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trustee

noun
trust·​ee | \ ˌtrəs-ˈtē How to pronounce trustee (audio) \

Legal Definition of trustee

 (Entry 1 of 2)

1 : one to whom something is entrusted : one trusted to keep or administer something: as
a : a member of a board entrusted with administering the funds and directing the policy of an institution or organization
b : a country charged with the supervision of a trust territory
2a : a natural or legal person to whom property is committed to be administered for the benefit of a beneficiary (as a person or charitable organization) : the holder of legal title to property placed in a trust — compare cestui que trust, settlor
b : one (as a corporate director) occupying a position of trust and performing functions comparable to those of a trustee

Other Words from trustee

trusteeship noun

trustee

verb
trusteed; trusteeing

Legal Definition of trustee (Entry 2 of 2)

transitive verb

: to commit to the care of a trustee

intransitive verb

: to serve as trustee

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More from Merriam-Webster on trustee

Rhyming Dictionary: Words that rhyme with trustee

Spanish Central: Translation of trustee

Nglish: Translation of trustee for Spanish Speakers

Britannica English: Translation of trustee for Arabic Speakers

Britannica.com: Encyclopedia article about trustee

Comments on trustee

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