Question

Hey mates❤❤

what is TRUSTEESHIP in accounts?​

Answer 1

$\huge\mathfrak\purple{Trust ship }$

✔✔In a trust account, a trustee controls funds for the benefit of another party - an individual or a group

✔✔.The bank trust account is a useful way to convey and control assets on behalf of a third-party owner.

Answer 2

Heya mate.

The individual or company who manages assets in a trust on behalf of the beneficiary.

More generally, any individual or company who manages assets on behalf of another. For example, a bank may hire a trustee to distribute funds from a loan to the borrower.

In both cases, the trustee has a fiduciary responsibility to act on behalf of the beneficiary or client, rather than in his/her own interests.

HOPE IT HELPS UH ❤️