MAKES TRUSTEE Meaning and
Definition
-
"Make trustee" is a term used in legal and financial contexts referring to the act of appointing or designating an individual or entity to serve as a trustee. A trustee is a person or organization that holds and administers assets on behalf of another party, known as the beneficiary, with a fiduciary duty to act in the best interest of the beneficiary.
When someone "makes trustee," they are formally entrusting another party with the responsibility of managing and safeguarding assets or property to fulfill specific obligations or purposes. This appointment commonly occurs through legal instruments such as trust deeds or wills, where the grantor or testator nominates a trustee to handle the assets or funds allocated for the benefit of beneficiaries, who can be individuals, organizations, or even charities.
To "make trustee" involves conferring the authority to the designated trustee, granting them legal control and decision-making powers over the assets or property outlined in the trust agreement. The trustee assumes a duty to administer the trust assets, follow the stipulated terms and conditions, and act in the best interest of all beneficiaries involved.
The role of a trustee typically entails managing investments, allocating funds, distributing income or assets to beneficiaries as outlined in the trust agreement or will, and ensuring compliance with legal and fiduciary obligations. A trustee must demonstrate trustworthiness, integrity, and competence in carrying out these responsibilities, as they hold a position of significant legal and financial responsibility.
Common Misspellings for MAKES TRUSTEE
- nakes trustee
- kakes trustee
- jakes trustee
- mzkes trustee
- mskes trustee
- mwkes trustee
- mqkes trustee
- majes trustee
- mames trustee
- males trustee
- maoes trustee
- maies trustee
- makws trustee
- makss trustee
- makds trustee
- makrs trustee
- mak4s trustee
- mak3s trustee
- makea trustee
- makez trustee
Etymology of MAKES TRUSTEE
The term "makes trustee" does not have a specific etymology because "trustee" is a noun, and "makes" is a verb. However, if you are referring to the term "trustee" alone, its etymology can be traced back to the Old English word "trēowthēow", which later morphed into "trēowtheow" in Middle English. The word was derived by combining "trēow", meaning "faith, covenant, treaty", and "thēow", meaning "servant, slave". This combined term referred to a person who was entrusted with the property or affairs of another, with an expectation of carrying out the duties faithfully. Over time, "trēowtheow" transformed into "trustee", which now commonly refers to a person entrusted with managing and administering assets or responsibilities for the benefit of others.
Infographic
Add the infographic to your website:
