Legal Definitions - judicial trustee

Judicial Trustee

A judicial trustee is a person appointed by a court to execute a trust. A trustee is someone who holds legal title to property and owes a fiduciary duty to the beneficiary. The duties of a trustee include converting debts and securities to cash, reinvesting the cash in proper securities, protecting and preserving the trust property, and ensuring that it is employed solely for the beneficiary, in accordance with the directions contained in the trust instrument.

• A trustee appointed by a court to manage the assets of a minor child until they reach adulthood.
• A trustee appointed by a court to manage the assets of a person with a disability.
• A trustee appointed by a court to manage the assets of a bankrupt individual or company.

These examples illustrate how a judicial trustee is appointed by a court to manage the assets of a person or entity in need of assistance. The trustee is responsible for ensuring that the assets are managed in the best interests of the beneficiary, in accordance with the directions contained in the trust instrument.