trustee

Meanings

• noun

  A person or organization holding and managing property or assets for the benefit of another.

  - "The trustee of the charity manages its finances and ensures that they are used for charitable purposes."
  - "After the death of a person, the executor of their will becomes the trustee of their estate."

• noun

  A person appointed to carry out the provisions of a trust.

  - "The trustee is responsible for managing the trust's assets and distributing the income to the beneficiaries."
  - "The trustee has a fiduciary duty to act in the best interests of the beneficiaries."

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Rhymes

Words rhyming with trustee
musee , newsy , reuse , abuse , peruse , improveus , dewsy

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Variants

List of all variants of trustee that leads to same result
trustee , trustees , trusty , trusteed , trusteeing , co-trustee , co-trustees , cotrustee , cotrustees

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Etymology

origin and the way in which meanings have changed throughout history.

Derived from the Old French word 'trustier', meaning 'to hold in trust'.

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Trivia

Any details, considerations, events or pieces of information regarding the word

1. In the United States, trustees are required to file an annual report with the Internal Revenue Service (IRS) for trusts with assets exceeding a certain value.

2. Trustees can be individuals or organizations, such as banks or trust companies.

3. The concept of trusts dates back to ancient civilizations, including Egypt, Greece, and Rome.

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Related Concepts

informations on related concepts or terms closely associated with the word. Discuss semantic fields or domains that the word belongs to

1. Trust: A legal arrangement where one party (the trustor) transfers assets to another party (the trustee) to manage for the benefit of a third party (the beneficiary).

2. Fiduciary: A person who holds a legal or ethical relationship of trust and confidence with another party, and acts on their behalf.

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Culture

Any cultural, historical, or symbolic significance of the word. Explore how the word has been used in literature, art, music, or other forms of expression.

Trustees have played important roles in various cultures throughout history. In ancient Rome, trustees were known as 'curators' and were responsible for managing the affairs of wealthy families and estates. In modern times, trustees have been used in various forms of art and literature, such as F. Scott Fitzgerald's novel 'The Great Gatsby', where the character Nick Carraway serves as the trustee of Gatsby's estate.

How to Memorize "trustee"

1. visualize
   

   - Imagine a person holding a box or envelope labeled 'Trust Fund'. This person is responsible for managing the assets inside the fund for the benefit of someone else.

2. associate
   

   - Associate the word 'trustee' with words like 'manager', 'caretaker', or 'guardian'. These words help reinforce the idea of someone in charge of managing assets for another's benefit.

3. mnemonics
   

   - Create a mnemonic like 'Trusty Tom' to help remember the definition of trustee. Tom stands for 'Trustee: Managing Other People's Estate'.

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