Trustee alternate 2025

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A Trustee is a person who acts as a custodian for the assets held within a Trust. He or she is responsible for managing and administering the finances of a Trust per the instructions given. Often, the person who creates the Trust is the Trustee until they can no longer fill the role due to incapacitation or death.
trustee (noun as in administrator) Strongest matches. agent custodian executor. Strong matches. executrix fiduciary guardian keeper warden.
One way to tell them apart is that a board of trustees governs a nonprofit organization or a trust, while a board of directors typically leads a for-profit business. However, note that a board of directors can also serve as the head of a nonprofit.
If a Trustee becomes mentally incapacitated, has no beneficial interest in the Trust and there are other Trustees, they can appoint another Trustee to replace the incapacitated Trustee.
A trustee is a person who takes responsibility for managing money or assets that have been set aside in a trust for the benefit of someone else.
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The Court can remove a trustee and make the trustee pay the beneficiaries for any loss to the trust. Sometimes the Court will remove the trustee or suspend the trustees powers while the case is pending if there is reason to believe the beneficiaries interests are at risk.

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