A trustee is a person or entity designated by a person who creates a trust (grantor, settlor, or trustor) to manage and administer the trust for the benefit of the named beneficiary or beneficiaries. The trustee of a trust created for estate planning purposes is often the grantor, settlor, or trustor who created and funded the trust.

A trust agreement may designate one or more successor trustees who will become the trustee if the previous trustee dies, is unable to continue to serve as trustee, resigns as trustee, or is removed by court order following a lawsuit filed by the beneficiary or beneficiaries of the trust.

A trustee has a fiduciary duty to the beneficiary or beneficiaries of the trust. A fiduciary duty includes the highest duty of care (performance of duties under the terms of the trust agreement) and of loyalty (avoiding conflicts of interest) recognized in law.

In Virginia, a trustee is an individual or entity appointed to manage a trust on behalf of the beneficiaries, as per the terms set forth by the grantor in the trust agreement. The trustee's role includes the administration of the trust's assets and ensuring that the trust's purpose is fulfilled. Virginia law requires trustees to adhere to a fiduciary duty, which is the highest standard of care in managing the trust's assets and acting in the best interests of the beneficiaries. This duty encompasses both a duty of care, which means the trustee must manage the trust assets prudently and in accordance with the trust's terms, and a duty of loyalty, which requires the trustee to avoid conflicts of interest and to not use the trust's assets for personal gain. Successor trustees may be named in the trust agreement to take over the trustee's responsibilities in the event of death, incapacity, resignation, or removal of the current trustee. If a trustee fails to fulfill their fiduciary duties, beneficiaries may bring legal action to seek removal of the trustee or other remedies under Virginia law.