trustee
person legally holding property for others
A person or company that legally keeps and manages money or property for another person or group.
[someone] is a trustee of [a trust/estate/fund]
- Under the will, his sister will serve as trustee of the family trust.
- The charity appointed a bank as corporate trustee to manage its endowment fund.
- As trustee of the estate, she must invest the assets carefully and report to the beneficiaries.
- He agreed to act as trustee for his niece’s inheritance until she turns twenty‑five.
- My uncle is the trustee of the family trust.
- The bank is a trustee for many small trusts.
- A trustee must look after the money for the children.
- She became a trustee of the estate after her father died.
member of an organization's governing board
A person who is on the main board that controls and guides an organization like a university or charity.
[someone] is a trustee of [an organization]
- She was recently elected as a trustee of the university.
- The board of trustees approved the new five‑year strategic plan.
- As a museum trustee, he helps set the institution’s long‑term priorities.
- Local residents can apply to become trustees of the community trust that runs the library.
- Her father is a trustee of the hospital.
- The board of trustees met last night.
- He wants to serve as a trustee for the school.
- The trustees choose the new director of the charity.
official managing a bankruptcy estate
A person chosen by a court to take control of a bankrupt person’s or company’s money and property and pay the people who are owed money.
[a court] appoints a trustee in bankruptcy for [someone/something]
- The court appointed a trustee in bankruptcy to liquidate the company’s remaining assets.
- Creditors must file their claims with the bankruptcy trustee by the stated deadline.
- The trustee’s report concluded that there were insufficient funds to pay all unsecured creditors.
- After she filed for bankruptcy, a trustee took control of her non‑exempt property.
- The judge chose a trustee in bankruptcy for the company.
- The bankruptcy trustee will sell the company’s cars and machines.
- Creditors must send papers to the trustee.
- The trustee in bankruptcy pays the money to the people the company owes.
- Base: trustee
- Plural: trustees
act as trustee
1perform the role of trustee
To do the job of a trustee, managing money or property for another person or group.
- The bank will act as trustee for the pension fund.
- She agreed to act as trustee for her nephew’s inheritance until he becomes an adult.
appointed as trustee
1officially chosen to be trustee
Officially chosen to do the job of a trustee.
- He was appointed as trustee under his father’s will.
- The bank has been appointed as trustee of the new investment fund.
board of trustees
1governing group of trustees
The group of people (trustees) who together control and guide an organization such as a university, charity, or pension fund.
- The board of trustees voted to increase funding for student scholarships.
- She presented the annual report to the board of trustees at their spring meeting.
corporate trustee
1company or bank acting as trustee
A company, usually a bank or trust company, that does the job of a trustee instead of a private person.
- The will names a corporate trustee to manage the family trust.
- Using a corporate trustee can provide professional management of the fund.
serve as a trustee
1hold a position as trustee
To have the job or role of a trustee, often on a board that controls an organization.
- She currently serves as a trustee of the national museum.
- Many alumni volunteer to serve as trustees of the university foundation.
sole trustee
1only person acting as trustee
The only person or organization that is acting as trustee, with no other trustees.
- Under the deed, she is the sole trustee of the trust.
- The charity named the bank as sole trustee of its endowment.
trustee for the benefit of
1trustee holding property for someone
A trustee who keeps and manages property to help or benefit a named person or group.
- She was appointed trustee for the benefit of her grandchildren.
- The fund will be held by the bank as trustee for the benefit of the employees.
trustee in bankruptcy
1trustee handling a bankruptcy case
A trustee chosen by a court to manage and sell the property of a bankrupt person or company and pay the creditors.
- The trustee in bankruptcy has asked the court for permission to sell the factory.
- Creditors can contact the trustee in bankruptcy for information about the case.
trustee of the estate
1trustee managing a deceased person’s estate
A trustee who controls and manages all the money and property of a dead person’s estate.
- As trustee of the estate, she must pay all taxes before distributing assets.
- The trustee of the estate filed an inventory of the property with the court.