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The general concept here, for one party to act for another, is called "agency", or "principal-agency" where the agent works for the principal based on the principal's grant of authority.

Sales agents, commission agents, travel agents....all have some authority like that.

When a court enters an order for someone to act on behalf of someone who is disabled, that kind of "agent" is usually called a "guardian".

When someone is asked to oversee, invest or administer funds or property for the benefit of third parties like children and grandchildren under some kind of agreement, that overseer/administrator is usually referred to as a "trustee".

I hope this gives you a basic idea.

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15y ago

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