What does it mean to be a trustee in Congress?
In this model, constituents elect their representatives as ‘trustees’ for their constituency. These ‘trustees’ have autonomy to deliberate and act as they see fit, in their own conscience even if it means going against the explicit desires of their constituents; this is also called a free mandate.
What do corporate trustees do?
Corporate trustees are departments at banks or other investment firms hired to build and manage a trust. People hire corporate trustees for their professional experience in trust matters that a family member or friend may not have.
What is a trustee in government definition?
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 individual who holds property, authority, or a position of trust or responsibility to transfer the title of ownership to the person named as the new owner, in a …
What does it mean for a member of Congress to represent her constituents as a trustee quizlet?
trustee. a member of congress who represents constituents interests while also taking into account national, collective, and moral concerns that sometimes cause the member to vote against the preference of majority of constituents. delegate.
What is the difference between a trustee and a delegate quizlet?
Delegate model is the view that an elected representative should represent the opinions of his or her constituents. Trustee model representation is when a member of the house or senate follows his or her own conscience when deciding issue positions.
What are the duties and benefits of a trustee?
The trustee acts as the legal owner of trust assets, and is responsible for handling any of the assets held in trust, tax filings for the trust, and distributing the assets according to the terms of the trust. Both roles involve duties that are legally required.
Why do you need a corporate trustee?
A corporate trustee must have a shareholder or shareholders and appoint directors to manage the trust and the distribution of assets to beneficiaries. The main benefits of having a corporate trustee in place are asset protection and limited liability.
What are the benefits of a corporate trustee?
What is a corporate trustee?
- Gain the advantage of years of experience.
- Enjoy the potential of even greater investment returns.
- Protect your wealth.
- Receive reliable, professional service.
- Benefit from their objectivity.
- Tap into their rich sources of advice and referrals.
- Enjoy peace of mind.
What is a trustee in government quizlet?
A trustee is a member of congress who votes on an issue focused on the greater good of the country rather than the intent of a constituent.
Who is considered a trustee?
A trustee is a person or firm that holds and administers property or assets for the benefit of a third party. A trustee may be appointed for a wide variety of purposes, such as in the case of bankruptcy, for a charity, for a trust fund, or for certain types of retirement plans or pensions.
What is the current salary of a member of Congress quizlet?
2) Money: Members of Congress earn a salary of $174,000– about three times the income of the typical American family.
How do the members of Congress represent their constituents in multiple ways quizlet?
A member of Congress represents the people by representing his or her constituents/the people of a particular geographic area. Other times, members may vote based on what they think is in the best interest of the nation, even if it conflicts with the views of their constituents.
What is a corporate trustee?
A corporate trustee is a business corporation, often a bank or similar financial institution, that manages other people’s property which is held in trust.
Can a corporate trustee be uncooperative?
Because corporate trustees must objectively follow the instructions for the trusts they manage, some beneficiaries (especially those who want the money now instead of when the trust states) have found them to be uncooperative. But that may be exactly what you want.
Can a corporate trustee be a successor trustee of a trust?
As Successor Trustee If you decide to be your own trustee (for example, of your revocable living trust), consider naming a corporate trustee as your successor trustee. In this capacity, they will step in and manage your trust for you when you can no longer act due to incapacity or death.
What is a corporate trustee for super funds?
A distinguishing feature of this structure is that assets of the trust must be registered in the name of the company. Corporate trustees are often created for self-managed super funds (SMSF).