Trustee is a legal term that describes the role of the holder of property and or goods on behalf of the beneficiary. Esentially, the trustee is the manager of the trust.
It is not uncommon for the grantor to serve as the trustee. Some grantors prefer to select a person such as a family member or a friend to serve as trustee of their estate. Another populkar option is for a grantor to select an institution such as a bank or a financial advisor to be the trustee. Trustees may be entitled to a payment for their services, if specified in the trust deed. No matter who the trustee is, it is the responsibility of the trustee to follow the trust's terms after the grantor dies.
