It is often common practice to choose both an individual trustee and a corporate trustee. The individual trustee may be a member of the family of the person or persons who established the trust and provides the family's perspective in managing the trust. On the other hand, the corporate trus...
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The trustee plays a crucial role in the management and distribution of a trust. Find out what the trustee's responsibilities are and how to choose one.
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The trustee can sell the property without going to court through a power of sale. The process is referred to as a foreclosure by power of sale. Even though a court does not oversee the proceedings, there are often laws that govern the sale, such as those that require a public notice of...
What is a trust?A trust is created when a person (the settlor) transfers assets to a third party (the trustee) to be administered for the benefit of persons chosen by the settlor (the beneficiaries).It is the transfer of legal title of property to the trustee to be held and ...
A trustee acts as a custodian for a trust. Almost anyone can be a trustee, as long as they accept the responsibilities that come with managing the trust..
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What Is a Trustee? A trustee is a person or firm that holds and administers property or assets for the benefit of a third party. A trustee may be appointed for various purposes, such as in the case of bankruptcy, certain types of retirement plans or pensions, or to manage assets for ...
Many types of trusts can use trust companies as a trustee, such as charitable trusts. Types of Trust Companies A trust company or trust department is often a division of a commercial bank or other financial institution, or a company associated with one. It can also be a separate corporate e...