A Trustee is an individual, a group of individuals, or a corporate body who holds personal or real estate property, including money or other assets, “in trust” on behalf of the ultimate beneficial owner.
For example, a Trustee may hold and manage money for a minor beneficiary of an Estate—the Trustee is not entitled to use the money to benefit themselves, but rather they hold the money in trust for the ultimate benefit of the minor. Once the minor reaches a certain age, the Trustee transfers any remaining funds to the beneficial owner (the now-adult child), and the Trust is dissolved.