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In this video, Joe from Prep Agent discusses the concept of a trustee, emphasizing its varying relevance across different states. He outlines the essential elements of trust deeds, highlighting the three key parties involved: the trustor, trustee, and beneficiary. To illustrate the concept, he uses a straightforward example involving a trustor, who is seeking funding to buy a house, and decides to approach a bank for a loan. The video aims to clarify the roles and relationships between these parties and emphasizes the importance of understanding this structure when considering trusts.