Meaning & Definition of word "Trustee"
Trustee
/trʌsˈti/
noun:
- 1. A person or organization that holds or manages property or assets for the benefit of another party.
- Example: The trustee is responsible for managing the estate until it is distributed to the heirs.
- 2. A member of a board that oversees the operation of an institution, such as a school or charity.
- Example: She was appointed as a trustee of the local library, where she helps make decisions regarding funding and resources.
- 3. A person appointed to administer the affairs of someone who is unable to do so due to illness or incapacity.
- Example: After the accident, he was named as the trustee for his brother, who was in a coma.
Etymology
●Middle English: from Old French trustier, based on Latin trustis 'trust'.
Common Phrases and Expressions
trustee in bankruptcy:
A trustee appointed to manage the bankruptcy process and oversee the debtor’s estate.
board of trustees:
A group of individuals responsible for overseeing the activities of an organization.
trustee company:
A corporation that acts as a trustee for various business and financial matters.
Related Words
trust:
A legal arrangement in which one party holds property for the benefit of another.
beneficiary:
A person or group entitled to receive benefits from a trust.
Slang Meanings of trustee
Meaning: A cool person who manages finances well.
● Example Sentence: He's the trustee of our group's budget; we trust him with all the funds.
Meaning: Someone who is overly cautious or serious about managing resources.
● Example Sentence: Don't be such a trustee; we can take a few risks with this money.