Trustee

A Trustee is an individual or organization appointed to manage and oversee Assets or property on behalf of another party, known as the Beneficiary. The Trustee has a fiduciary duty to act in the best interest of the Beneficiary, managing the Trust according to its terms and applicable laws.

Examples of Trustees include:

• A bank acting as a Trustee for a Trust-fund/">Trust Fund established for a minor.
• An individual appointed as a Trustee in a will to manage the estate of a deceased person until it is distributed to heirs.

Cases involving Trustees can include:

• In re Estate of Johnson: A Trustee was held liable for mismanagement of Trust Assets, failing to diversify investments.
• Smith v. Smith Trust: A Beneficiary sued the Trustee for breach of fiduciary duty, alleging the Trustee acted in self-interest rather than the interest of the beneficiaries.