Trustee is a term used to describe a person who is responsible for managing the assets of another person or organization. A FIDUCIARY is a type of trustee who has a legal obligation to act in the best interests of the beneficiary. An ADMINISTRATOR is a type of trustee who is responsible for managing the affairs of an estate, trust, or other organization. A REGENT is a type of trustee who is appointed to manage the affairs of a state or university.