Trustee vs. Executor

By Jaxson

Main Difference

The main difference between Trustee and Executor is that the Trustee is a person who holds property, authority, or a position of trust or responsibility for the benefit of another and Executor is a profession

  • Trustee

    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 person who holds property, authority, or a position of trust or responsibility for the benefit of another. A trustee can also refer to a person who is allowed to do certain tasks but not able to gain income. 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.

    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.

  • Executor

    An executor is someone who is responsible for executing, or following through on, an assigned task or duty. The feminine form, executrix, may sometimes be used.

  • Trustee (noun)

    A person to whom property is legally committed in trust, to be applied either for the benefit of specified individuals, or for public uses; one who is intrusted with property for the benefit of another.

  • Trustee (noun)

    A person in whose hands the effects of another are attached in a trustee process.

  • Trustee (verb)

    To commit (property) to the care of a trustee.

    “to trustee an estate”

  • Trustee (verb)

    To attach (a debtor’s wages, credits, or property in the hands of a third person) in the interest of the creditor.

  • Executor (noun)

    A person who carries out some task.

  • Executor (noun)

    Someone appointed by a testator to administer a will; an administrator.

  • Executor (noun)

    An executioner.

  • Executor (noun)

    a person or institution appointed by a testator to carry out the terms of their will

    “the executors of the late John B. Smith”

    “Hugh appointed him an executor of his will”

  • Executor (noun)

    a person who produces something or puts something into effect

    “the makers and executors of policy”

Oxford Dictionary

Leave a Comment