A trustee is a person or organization appointed to manage assets or property on behalf of another party, known as the beneficiary. The trustee has a legal obligation to act in the best interests of the beneficiary, ensuring that the assets are handled responsibly and according to the terms of a trust agreement. This role is crucial in estate planning and financial management. Trustees can be individuals, such as family members or friends, or institutions like banks or law firms. They are responsible for making decisions about investments, distributions, and other financial matters related to the trust, ensuring compliance with relevant laws and regulations.