How does a trustee work?
A trustee is a type of person or entity that has a legal right to property or a group of property to another person, who is referred to as the beneficiary. The trustee is given a legal qualification by the trust which is an agreement between the two consenting parties. A trust is primarily a relationship in which the person or party holding the property gives the trustee the right to hold that property or property for the benefit of a third party (the trustee is called the beneficiary). A trust can be formed to provide legal protection to the trust’s assets and to ensure that the assets are properly distributed. It is the trustee’s responsibility to ensure that the trustee’s wish is granted.