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Trustee
A person or institution that holds and manages assets in a trust for the benefit of the beneficiaries. The trustee has a fiduciary duty to act in the best interests of the trust beneficiaries.
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Beneficiary
A person or entity designated to receive assets, benefits, or proceeds from a will, trust, insurance policy, or other legal arrangement.
Fiduciary
A person or entity that has a legal obligation to act in the best interest of another party. Fiduciaries include trustees, executors, agents under power of attorney, and corporate directors.
Disclaimer
This definition is for informational purposes only and does not constitute legal advice. Consult a licensed attorney for specific guidance.