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The trustee model of representation is a model of a representative democracy, frequently contrasted with the delegate model of representation. [1] In this model, constituents elect their representatives as ' trustees ' for their constituency .
A trustee is someone who acts on behalf of others, using their knowledge, experience and intelligence upon a certain field. The trustee model contrasts with the delegate model as this time constituents "entrust" their elected representatives to represent them however they see fit, with autonomy to vote and behave in the best way for their ...
The trustee must also keep adequate records of the administration of the trust generally. [66] All trust property must stay separate from the trustee's own personal property and must not be "commingled." [67] A trustee can hold certain securities, usually publicly traded ones, in a "street name" or nominee registration for ease of management. [68]
Estate planning can be difficult. In addition to the fact that it may bring up some uncomfortable feelings – like grappling with one's mortality – there is also the fact that it can be a ...
Trustees [2] have certain duties (some of which are fiduciary). These include the duty to: Carry out the expressed terms of the trust instrument. [3] Trustees are bound to act in accordance with the terms of the trusts upon which the trustee holds trust property, and commit a breach of trust by departing from the terms of the trust. [4]
A trust company is a corporation that acts as a fiduciary, trustee or agent of trusts and agencies. A professional trust company may be independently owned or owned by, for example, a bank or a law firm, and which specializes in being a trustee of various kinds of trusts.
Irish philosopher Edmund Burke (1729–1797) contested this model and supported the alternative trustee model of representation. [1]The delegate model of representation is made use of in various forms of council democracy and commune democracy.
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