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trustee Definition

trustee (trus tē′)

noun

  1. a person to whom another's property or the management of another's property is entrusted
  2. a nation under whose authority a trust territory is placed
  3. any of a group or board of persons appointed to manage the affairs of an institution or organization
  4. ☆ in some U.S. states, a person in whose hands the property of a debtor is attached by means of garnishment; garnishee

transitive verb -·eed′, -·ee′·ing

  1. to commit (property or management) to a trustee or trustees
  2. ☆ to attach by means of garnishment

trustee Synonyms

trustee

n.

guardian, custodian, controller, lawyer, stockholder, guarantor, regent, board member, overseer, governor, appointee, administrator, member of the directorate, garnishee.

trustee  Finance Definition
  1. A person who has been appointed by a court to handle the issues outlined in a legal action. For example, in a bankruptcy proceeding, the judge appoints a trustee who is responsible for such things as liquidating assets and disbursing the proceeds to the creditor.
  2. A person who administers a trust. See also trust.
  3. A group or board of people who have been appointed to manage the affiars of an institution, such as a university.
trustee Law Definition

n

Someone who holds title in trust for the benefit of another person and who owes fiduciary responsibility to that beneficiary. Also used loosely to refer to anyone acting as guardian or fiduciary with respect to another person.
bankruptcy trustee
A court officer appointed by a judge or elected by creditors to act as the representative of a bankruptcy estate.
trustee Usage Examples

Converse of object

  • appoint: Appointed a Trustee of The Civic Trust on 18th July 2000.
  • nominate: The survey is sent to the TUC's network of member nominated pension fund trustees.
  • disqualify: There is an Independent Complaints Adjudicator who can suspend or disqualify trustees.
  • advise: A team led by partner Jason Coates has been appointed to advise the trustees of TM Retail's two pensions schemes.
  • recruit: It should also tie in with a greater drive to recruit trustees from the private sector.
  • authorize: Reports must be dated and signed by at least one trustee authorized for the purpose.

Converse of subject

  • administer: Administration The Fund shall be administered by four Trustees and three Officers all of whom are members of the Association.

Adjective modifier

  • member-nominated: This suggests compulsory trustee training, which may not sit easily with the requirement for all schemes to have a member-nominated trustee.
  • founding: The trustees appeared to rely on the Chairperson, who was also the founding trustee, to run the Charity.
  • sole: City of London The City Of London is the sole Trustee of the Bridge House Trust.

Modifies a noun

  • indemnity: Pension trustee liability Indemnity to Trustees against negligent act, error or omission.

Noun used with modifier

  • custodian: Can a local authority be the custodian trustee of a charity?
  • charity: Where the union is a charity this will be the charity trustees.
  • pensioneer: We act as providers of SIPP plans and their integrated banking arrangements to selected pensioneer trustees who market them under their own brand.
  • pension: The pension scheme trustees will need to record the change of employer.
  • holding: Sometimes a charity also has a custodian trustee or holding trustees.
  • turnpike: The turnpike trustees wanted a new Act and the turnpikes were wrecked twice again in July 1749.

Preposition: in

  • bankruptcy: A property where the liable person is a trustee in bankruptcy.

Preposition: of

  • charity: In addition, he is a Trustee of the arts charity, Arts & Business.
  • settlement: However where the purchasers are purchasing as trustees of a settlement any trustee may sign.