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In this tutorial, Joe from Prep Agent explains the concept of a trustee, emphasizing its varying importance across different states. He highlights that trusts involve three key parties: the trustor, the trustee, and the beneficiary. The trustor is an individual seeking a loan to purchase a house but lacks sufficient funds. He approaches the bank for financial assistance. The discussion aims to simplify the role of the trustee and the dynamics of trust deeds, encouraging viewers to check state-specific regulations as not everyone may need to understand this concept.