trustee political definition
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JURISPRUDENCE 1. trustee-a person (or institution) to whom legal title to property is entrusted to use for another's benefit. legal guardian. law, jurisprudence-the collection of rules imposed by authority; civilization presupposes respect for the law; the great problem for jurisprudence to allow freedom while enforcing order.
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Trustees United States Trustee. The United States Trustee is designated by federal law to oversee the administration of bankruptcy cases and bankruptcy trustees in bankruptcy cases.
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What Does It Mean To Be a Trustee? What Does It Mean To Be A Trustee? If a family member or friend has chosen you to serve as Trustee of their Living Trust, you’ve been given a great honor. It means they believe you are honest and responsible and they have a great deal of faith in your abilities and your personal integrity. It also means that you have an important, and sometimes complicated, job to do. Basic Duties. While no two Trusts are exactly alike, all Trustees share the same basic obligations.
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What is a Trust and What are the Powers and Duties of a Trustee? A trust is a fiduciary relationship with respect to property in which one person, the trustee, holds the legal title to the trust property for the benefit of another person or persons, the beneficiary. Essentially, it is a device where one or more persons manage the property for the benefit of others.
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Instructions for Form 706-GS (D-1) (11/2017) The settlor is the person who establishes the trust including determining the original trustee and the beneficiaries, what property is in the trust, and what rules govern the duties of the trustee. The trustee is the person (or persons or company) that manages the trust.
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Trustee (April 2009) (Learn how and when to remove this template message) Trustee (or the holding of a trusteeship) is a legal term which, in its broadest sense, can refer to any person who holds property, authority, or a position of trust or responsibility for the benefit of another.
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- A trustee is the administrator of a trust (which is set up by a grantor). The trustee handles the assets or property for a third party beneficiary. A trustee may be appointed because of bankruptcy, for administration of a charity, or to handle a trust fund, pension, or retirement plan.
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UST - Region 1 The United States Trustee Program is the component of the U.S. Department of Justice that supervises the administration of bankruptcy cases. The United States Trustee for Region 1 serves the federal judicial districts established for Massachusetts, Maine, New Hampshire and Rhode Island. The regional office is located in Boston, MA.
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trustee 1. Law The person in a trust relationship who holds title to property for the benefit of another. 2. A member of a board elected or appointed to direct the funds and policy of an institution. 3.
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All You Need To Know About Trusts The Four Main Participants In a Trust. Grantor: the person who creates the Trust (also known as “donor,” “settlor,” or “trustor”) Trustee: the person, people, or entity (such as a bank) that agrees to hold the property or assets (the grantor may be the Trustee) Principal: the property or assets themselves, including money, which is held in the Trust and managed by the Trustee.
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What is the difference between a trustee and an instructed delegate? One way is to act as a trustee. This means that the legislators vote and act according to their ow … n personal beliefs and what they feel is best for society. This way is very personal, assuming that the voters trust the elected legislator to make the right decisions.
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trustee a person, usually one of a body of persons, appointed to administer the affairs of a company, institution, etc. a person who holds the title to property for the benefit of another.
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The Battles of Lexington and Concord All now said the British fired first at Lexington, whereas fifty or so years before, they weren't sure. All now said they fired back, but in 1775, they said few were able to. The Battle took on an almost mythical quality in the American consciousness.
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What is a trust? A trustee controls and manages the trust. An unreliable trustee can upset your plans for distribution or management of fund assets. The trustee will hold the legal title of any assets included with the trust. Legal title is not quite the same as full title.
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Irrevocable Trusts The trustee is the person who is responsible for all aspects of the administration of a trust. The primary duties of any trustee are twofold: (1) to prudently invest and protect the assets of the trust, and (2) to make distributions to the trust beneficiaries according to the terms of the trust agreement.
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ALABAMA Whenever the context hereof so requires, the masculine gender includes the feminine and/or neuter, and the. singular numbers includes the plural. The undersigned hereby accepts said appointment as trustee under the above deed of trust, and as successor. trustee, and pursuant to the request of said owner and holder and in accordance with the provisions of said deed. of trust, does hereby RECONVEY WITHOUT WARRANTY, TO THE PERSONS LEGALLY ENTITLED.
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Becoming a trustee of a pension scheme The trustees of a pension scheme are the people, acting separately from the employer, who hold the assets invested in the scheme for the benefit of the participants.onsider conflicts of interest. Trustees are there to act in the interests of the scheme members. These include those currently earning benefits under the scheme, and also those who have left or retired. If you do this, and put any conflicts of interest to one side, you are unlikely to go wrong.
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What is a trustee? Trustee companies: depending on the jurisdiction, trustee companies must act within their statutory capacity in their position as executors and administrators of an estate. The essence of the role of a trustee company is the investment and management of the funds on behalf of their clients. Bare trustees: a bare trustee is where a person holds a trust property for the absolute benefit and disposal of a beneficiary who is of full age and capacity.
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Trustee in bankruptcy A trustee in bankruptcy is an entity, often an individual, in charge of administering a bankruptcy estate.
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Guidelines for Individual Executors & Trustees Grantor - (Also called settlor or trustor) An individual who transfers property to a trustee to hold or own subject to the terms of the trust agreement setting forth your wishes. For income tax purposes the same term is used to mean the person who is taxed on the income from the trust.
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Cooll Japan Illustrated | Anime & Manga | âmoeâ implies close but unattainable pent-up feelings of a boy not being able to tell his own feelings directly to a girl because of the difference in social position. Wild pinks. 1  cf. Drawing faces on melons was a common pastime, especially for women and children. 2  cf. Squeak of a mouse: women and children of the leisured class often kept baby sparrows and othe little birds as pets. 3  cf. nuns: i.e. cut at shoulder length.
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Who Is the Trustee in a Deed of Trust? Instead, the trust deed conveys the interest to a designated third party, called a trustee, who holds the title as a surety for the loan. The trustee’s primary function is to hold and maintain a property title for the borrower and the lender for the duration of the loan.
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What is a 'Trust' DEFINITION of 'Trust'. A fiduciary relationship in which one party, known as a trustor, gives another party, the trustee, the right to hold title to property or assets for the benefit of a third party, the beneficiary. There are two types of trusts: 1. Living Trust (inter-vivos): A trust that is in effect during the trustor's lifetime. 2.
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- In the USA, we have most often chosen to follow the Trustee model of representation and have limited the input we can have on our legislative process to the elections alone, trusting that the promises made by the candidate will be fulfilled once he or she gets elected to office.
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administration ADMINISTRATION, trusts. The management of the estate of an intestate, a minor, a lunatic, an habitual drunkard, or other person who is incapable of managing his own affairs, entrusted to an administrator or other trustee by authority of law.
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âWhat is a Multiemployer Plan? An individual who serves as a union trustee or employer trustee is not acting as a fiduciary when acting in his or her union or employer role even if the matter can affect the plan, provided that such individual is not exercising any authority or responsibility as a trustee when serving in the union or employer role.