Final answer:
A trustee is the individual or business entity that holds and administers a trust. They are responsible for managing the trust's assets and ensuring the grantor's instructions are followed for the benefit of the beneficiaries.
Step-by-step explanation:
The individual or business entity in whose name a trust is held is known as the trustee. A trustee is responsible for managing the trust and carrying out the terms as set by the person who established the trust, often referred to as the grantor. The purpose of a trust is to manage assets and distribute them to the beneficiaries according to the grantor's wishes. This is typically done outside of probate court. When an individual dies without a will or trust, known as dying intestate, state laws dictate the distribution of their assets. Trusts can also refer to conglomerations of companies controlled by a single entity to circumspect monopoly laws, or in a figurative sense, a responsibility conferred upon someone to manage resources or represent interests for others, similar to a corporate entity or a political trustee.
Answer: a. Trustee