What term describes a fiduciary who holds or controls property for the benefit of another?

The correct term for a fiduciary who holds or controls property for the benefit of another is "Trustee." In a trust arrangement, a trustee is responsible for managing the trust assets according to the terms set forth in the trust document and for the benefit of the beneficiaries. This role involves a high level of fiduciary duty, which means that the trustee must act in the best interests of the beneficiaries, maintaining the trust’s assets and managing them prudently.

Trustees have a legal obligation to manage the properties with care, loyalty, and obedience to the terms of the trust. Their responsibilities can include making investment decisions, distributing funds, and ensuring that the trust is administered according to the laws and preferences established by the grantor.

In contrast, an administrator typically manages the estate of a deceased person when there is no will, an executor is named in a will to oversee the distribution of the deceased's estate, and a guardian is responsible for the care and well-being of a minor or incapacitated individual. While these roles involve a form of fiduciary duty, they do not specifically refer to the management of property for beneficiaries as a trustee does.