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Are you beginning your journey towards wealth management? Are you interested in learning more about best practice wealth management techniques? Do you want to protect your assets and provide a legacy for your loved ones? We invite you to enter the Pinnacle Trust Knowledge Center to read blogs, watch financial advisory videos, and gain further insights into our proven wealth management solutions.

Executor vs. Trustee Explained

I am often asked to explain the difference between the executor and the trustee. To most people, the two words mean the same thing. However, the roles of either are distinctly different. The similarity that leads to the confusion, however, is that an executor and the trustee are both “fiduciaries.” Fiduciary is commonly defined as a person or an entity that owes a duty of loyalty and good faith to another person. A fiduciary occupies a position of trust and is bound both legally and ethically to act in the best interest of another. In this regard, the confusion is understandable because either an executor or a trustee is called upon to perform a task on the behalf of someone for the benefit of another.

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