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Trustworthy

Trustworthy
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Trustworthy

Trustworthy

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A trustee or custodian is a company or person who holds and protects property or assets for a third party. Trustees can be appointed for a variety of reasons, such as in case of bankruptcy, for charity, for a trust fund, or for a specific type of retirement plan or pension. Trustees believe in making decisions in the best interests of the beneficiaries and often have a credible responsibility, i.e. they act in the best interests of the trust beneficiaries to manage their assets.

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.

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