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LSDefine

Simple English definitions for legal terms

independent trustee

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A quick definition of independent trustee:

An independent trustee is someone who is in charge of taking care of a trust, but they cannot benefit from the trust or be related to anyone who does. They have to follow the rules of the trust and make sure they do what is best for the people who will benefit from it. They have to be fair to everyone and not do anything that would be bad for the trust. If they make a mistake, they can be in trouble.

A more thorough explanation:

An independent trustee is a person or organization that has no personal interest in the trust. This means that they cannot be a beneficiary of the trust, a contributor to the trust, or related to the beneficiary or contributor in any way. The independent trustee must follow the instructions of the trust and be responsible for their actions in administering the trust.

For example, if a wealthy individual sets up a trust for their children's education, they may appoint an independent trustee to manage the trust. The independent trustee would be responsible for investing the trust funds, paying for the children's education expenses, and ensuring that the trust is used for its intended purpose.

The independent trustee, like all trustees, has a duty of care and loyalty to the beneficiaries of the trust. This means that they must act in the best interests of the beneficiaries and follow the terms of the trust. They must also protect and control the trust property with reasonable care and avoid any conflicts of interest.

If the independent trustee fails to fulfill their duties, they may be held liable for any damages or losses suffered by the beneficiaries. Therefore, it is important to choose an independent trustee who is trustworthy, competent, and experienced in managing trusts.

independent contractor | indeterminate sentence

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MIAMI A
[] AromaticTroubledDormouse
20:55
How does one know if they are UR1 or UR2?
[] AromaticTroubledDormouse
20:56
CONGRATS MACAQUE!
TY
got a random stanford email and almost had a heart attack
ALSO CONGRATS!
Congrats1!
21:15
Miami A, yall I'm so excited I could cry.
21:15
Feel like I can finally stop holding my breath!! Whew!!!
[] baddestbunny
22:16
every time I get accosted by a strange man who follows me around because my male coworkers were too busy talking to walk me back to my car I get closer to saying we need to bring back traditional gender roles
Dkk
22:32
Nice! @Macaque
Dkk
22:32
@Aromatic, Have to guess.
Dkk
22:33
That sucks @Bunny do you have to go to the hospital?
[] baddestbunny
22:40
I said accosted not assaulted
23:35
guys. my notre dame address just went long is this good or bad
1a2b3c4d26z
23:37
Oooooo me too
23:37
omg is this good or bad
Dkk
23:47
Idk if gender roles are gunna fix that then.
23:49
it looks like most people who applied in october last cycle didn't get a decision until january... does it even mean anything that our addresses went long??
hows ED 2 compared to ED 1?
Dkk
0:10
No idea
windyMagician
0:34
reporting live to say my ndls address also went long
does it mean anything ^
Dkk
2:21
NDLS and Fordham took a very long time last year. It's good info for people to know.
[] baddestbunny
4:29
let’s get after it boys and girls
Dkk
5:21
I gtg to bed soon.
Dkk
5:22
Big day today. Gunna be a crazy one. I will sleep through the first half.
good morning lsd it is 5 am EST
also jazzy my ndls address went long ages ago i sadly do not think it means anything
my stanford address also went long LOL i think at most it's an indicator it's under review
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