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Trustee (or the holding of a trusteeship) 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, also a trustee can be a person who is allowed to do certain tasks but not able to gain income.〔''Black's Law Dictionary, Fifth Edition'' (1979), p. 1357, ISBN 0-8299-2041-2.〕 Although the strictest sense of the term is the holder of property on behalf of a beneficiary,〔 the more expansive sense encompasses persons who serve, for example, on the Board of Trustees for an institution that operates for the benefit of the general public. Also a person in the local government. A trust can be set up either to benefit particular persons, or for any charitable purposes (but not generally for non-charitable purposes): typical examples are a will trust for the testator's children and family, a pension trust (to confer benefits on employees and their families) and a charitable trust. In all cases, the trustee may be a person or company, whether or not they are a prospective beneficiary. ==General duties of trustees== Trustees〔(【引用サイトリンク】title=The New Palgrave Dictionary of Economics and the Law, Definition of "fiduciary duties" by Tamar Frankel Vol.2, p.127-128 )〕 have certain duties (some of which are fiduciary). These include the duty to: * Carry out the expressed terms of the trust instrument * Defend the trust * Prudently invest trust assets (in New South Wales, this is mandated by ''Trustee Act 1925'' (NSW) 〔 ss14, 14A, 14C Trustee Act 1925 (NSW) () 〕) * Be impartial among beneficiaries * Account for actions and keep beneficiaries informed * Be loyal * Not delegate * Not profit; however, may charge fees for services to the Trust 〔 Case law authority ''Keech v Sanford'' () EWHC Ch J76 () 〕 * Not be in a conflict of interest position * Administer in the best interest of the beneficiaries The terms of instrument that creates the trust may narrow or expand these duties—but in most instances they cannot be eliminated completely. Corporate trustees, typically trust departments at large banks, often have very narrow duties, limited to those the trust indenture explicitly defines. A trustee carries the fiduciary responsibility and liability to use the trust assets according to the provisions of the trust instrument (and often regardless of their own or the beneficiaries' wishes). The trustee may find himself liable to claimants, prospective beneficiaries, or third parties. In the event that a trustee incurs a liability (for example, in litigation, or for taxes, or under the terms of a lease) in excess of the trust property they hold, they may find themselves personally liable for the excess. Trustees are generally held to a "prudent person" standard in regard to meeting their fiduciary responsibilities, though investment, legal, and other professionals can be held to a higher standard commensurate with their higher expertise. Trustees can be paid for their time and trouble in performing their duties only if the trust specifically provides for payment. It is common for lawyers to draft will trusts so as to permit such payment, and to take office accordingly: this may be an unnecessary expense for small estates. In an exception to the duties outlined above, sabbatical officers of students' unions who are also trustees of these organisations they work for do have the right to a salary (and hence profit from their being a trustee). This is an exception explicitly granted in the 1993 act ==Other uses== The broadest sense of the term ''trustee'' applies to someone held to a fiduciary duty similar in some respects to that of a trustee proper. For example, the directors of a bank may be trustees for the depositors, directors of a corporation are trustees for the stockholders and a guardian is trustee of his ward's property. Many corporations call their governing board a board of trustees, though in those cases they act as a board of directors. 抄文引用元・出典: フリー百科事典『 ウィキペディア（Wikipedia）』 ■ウィキペディアで「Trustee」の詳細全文を読む スポンサード リンク
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