The Trustee (i.e. the manager of the Trust fund), who may be a natural person (typically a lawyer or accountant) or a legal entity (a limited liability company or corporation that performs this role professionally):

● administers and uses the assets transferred into the Trust fund, of which they have full legal title as if they were the owner (i.e. mediated ownership), in pursuit of the Trust’s objectives, according to the rules set by the Settlor in the trust deed, with discretion and autonomy (i.e. to avoid any fictitious interposition by the Settlor);
● administers and uses the assets transferred into the Trust fund, of which they have full legal title as if they were the owner (i.e. mediated ownership), in pursuit of the Trust’s objectives, according to the rules set by the Settlor in the trust deed, with discretion and autonomy (i.e. to avoid any fictitious interposition by the Settlor);
● manages the Trust assets (by way of example but not limited to: collects rental income from real estate, participates in shareholders’ meetings, enhances the value of the Trust assets, such as artworks or collections, etc.);
● provides detailed reporting to the Beneficiaries and to the Protector, if appointed, regarding the management performance.

Currently in Italy, it is common practice to entrust the role of Trustee primarily to specialized legal entities, the so-called Trust Companies.

A Trust Company is a firm that professionally performs the role of Trustee and represents the most advanced expression of the Trustee figure, being a company composed of highly specialized professionals in legal (i.e. civil, corporate, and inheritance law), tax, and accounting fields, who combine technical skills with practical experience to achieve the objectives set by the Settlor in the trust deed.

By their very nature, Trust Companies also ensure full continuity in management, since a legal entity is far less exposed to personal events that may limit its operability (unlike individual Trustees). In any case, they offer the client adequate insurance guarantees, including for cases of mala gestio of the Trust fund by the Trustee, making them 100% secure for the client.