Private trustee
Encyclopedia
In the United States
a Private Trustee is a position set up through a Trust Indenture. It is a private agreement, between the Settlor of a Trust and the Trustee
.
Even though this position was established long before 1634, no records can be found, by this author, of it existence prior to this date. This makes both the Trust and the Trustee private. This arrangement differs from a bank Trustee or a corporate Trustee, both mainly focus on legalities and accounting in the public arena.
A Private Trustee works for and with the family and Beneficiaries becoming familiar with their needs and wishes. Thus, the Private Trustee is more likely to move the Trust group forward keeping these priorities in mind. Usually the Settlor and the Trustee work closely together establishing investments for the trust.
United States
The United States of America is a federal constitutional republic comprising fifty states and a federal district...
a Private Trustee is a position set up through a Trust Indenture. It is a private agreement, between the Settlor of a Trust and the Trustee
Trustee
Trustee 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...
.
Even though this position was established long before 1634, no records can be found, by this author, of it existence prior to this date. This makes both the Trust and the Trustee private. This arrangement differs from a bank Trustee or a corporate Trustee, both mainly focus on legalities and accounting in the public arena.
A Private Trustee works for and with the family and Beneficiaries becoming familiar with their needs and wishes. Thus, the Private Trustee is more likely to move the Trust group forward keeping these priorities in mind. Usually the Settlor and the Trustee work closely together establishing investments for the trust.