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:
“It is said that a carpenter building a summer hotel here ... declared that one very clear day he picked out a ship coming into Portland Harbor and could distinctly see that its cargo was West Indian rum. A county historian avers that it was probably an optical delusion, the result of looking so often through a glass in common use in those days.”
—For the State of New Hampshire, U.S. public relief program (1935-1943)