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LSDefine

Simple English definitions for legal terms

trustee

Read a random definition: Codex Theodosianus

A quick definition of trustee:

A trustee is someone who is chosen by another person to take care of their money or property. The trustee has to follow the rules that the person who chose them made, and they have to make sure that they use the money or property in the best way possible for the person who will get it later. The trustee can't use the money or property for themselves, and they have to be fair to everyone who will get the money or property later. If the trustee can't do their job anymore, someone else will be chosen to take their place.

A more thorough explanation:

A trustee is a person or entity who is given the responsibility to manage and take care of assets that are held in a trust. The trustee is appointed by the person who created the trust, known as the settlor, and is responsible for carrying out the wishes of the settlor as outlined in the trust document.

For example, if a wealthy individual creates a trust to provide for their children's education, they may appoint a trustee to manage the assets in the trust and ensure that the funds are used for educational purposes only.

Trustees have a legal obligation to act in the best interests of the beneficiaries of the trust. This means that they must manage the assets prudently, avoid conflicts of interest, and act impartially if there are multiple beneficiaries. Trustees must also keep accurate records of their management of the trust assets.

If a trustee is unable or unwilling to carry out their duties, a successor trustee may be appointed by the court to take their place.

trust res | trustee in bankruptcy

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18:48
true i love ur user
18:49
thank you my little crow friend
Dkk
18:50
Med law easy done
medicine is a scam
join the ethically ambiguous legal field instead
Dkk
18:57
I want to meet an attorney that defends clients who run into flat earth problems. I want an attorney that knows and believes in flat earth theory.
19:05
i want a flat earther for president. i want a guy who posts on 4chan for president. i want someone who mogs for president.
Dkk
19:18
Exactly. My version of that awful poem.
Dkk
19:19
I can accept a president with maybe one or two of the poems traits hut good God, all of them??? No ty.
windyMagician
19:20
president who respects sex is crazy
windyMagician
19:20
we had bill clinton already
Dkk
19:21
Bill Clinton, first and last black president
windyMagician
19:23
I want to go running but my leg feels weird
windyMagician
19:23
it doesn't hurt its just tingly
Dkk
19:26
It needs more alcohol. You tingle when your nerves need watering.
19:27
try stretching it maybe to see what's up
windyMagician
19:27
stretches make me think it's just soreness
windyMagician
19:27
I'm sober lol
Dkk
19:38
Anyone else get the google notification that your LSD password has been compromised lol. LSD got hacked.
20:48
what.jpg @Dkk
CynicalOops
21:03
You think you just fell out of a coconut tree?
jackfrost11770
21:10
nope dk
CynicalOops
22:37
Calvinamala Harris
jackfrost11770
23:16
should i start using letterboxed again
Dkk
23:25
@jackfrost11770: if you want but like it aint for me
dk do u ever eat at bk
Dkk
23:48
@chickenburgahfart: I would do that in the Army if really desperate for food or if I had to work through lunch. One of the few fast food places I go to.
bk so slept on
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