The public trustee is an office established pursuant to national (and, where applicable, state or territory) statute, to act as a trustee, usually where a sum is required to be deposited as security by legislation, where courts remove another trustee, or for estates where either no executor is named by will or the testator elects to name the Public Trustee.
Read more about Public Trustee: Origins, Other Nations, United Kingdom and Australia, New Zealand
Famous quotes containing the word public:
“Linguistically, and hence conceptually, the things in sharpest focus are the things that are public enough to be talked of publicly, common and conspicuous enough to be talked of often, and near enough to sense to be quickly identified and learned by name; it is to these that words apply first and foremost.”
—Willard Van Orman Quine (b. 1908)