Trustee or the holding of a trusteeship is a legal term which, in its broadest sense, is a synonym for anyone in a position of trust and so can refer to any individual who holds property, authority, or a position of trust or responsibility to transfer the title of ownership to the person named as the new owner, in a trust instrument, called a beneficiary. A trustee can also refer to a person who is allowed to do certain tasks but not able to gain income, although that is untrue.Although in the strictest sense of the term a trustee 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 of an institution that operates for a charity, for the benefit of the general public, or a person in the local government.

Trustees have certain duties:

Be loyal

Not delegate

Defend the trust

Prudently invest trust assets

Not be in a conflict of interest position

Administer in the best interest of the beneficiaries

Not profit; however, may charge fees for services to the Trust

Be impartial among beneficiaries - the trustee must act impartially between individual beneficiaries as well as between different classes of beneficiaries.

Carry out the expressed terms of the trust instrument. A trustee is bound to act in accordance with the terms of the trusts upon which he or she holds trust property, and commits a breach of trust if he or she departs from the terms of the trust.

Account for actions and keep beneficiaries informed, these include a duty to inform beneficiaries as to their entitlements under the trust and other matters concerning the trust. Trustees do not have priority right to trust documents. It is a personal right and cannot be assigned. The right to seek disclosure of trust documents is an aspect of the court's inherent jurisdiction to supervise the administration of trusts.

Trustees are generally held to a "prudent person" standard in regard to meeting their fiduciary responsibilities, though investment, legal, and other professionals can, in some jurisdictions, 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.