Definition from Nolo’s Plain-English Law Dictionary
A trustee who is not related to the beneficiary of the trust and does not stand to inherit any property under the trust. Independent trustees are preferred when family members are likely to disagree over management of the trust. However, independent trustee's fees are usually higher than those charged by a family member.
Definition provided by Nolo’s Plain-English Law Dictionary.
August 19, 2010, 5:17 pm