“Rob, I really like the idea of having a trustee. Just not a trust.”

This is something I heard from a prospect I was introduced to recently, let's call him Mr. X. 

I really believe in the notion of the trustee; someone who has a strict, legally enforceable, fiduciary duty to act in the best interests of his 'clients'. A generalist who is responsible for the whole, rather than just a specific part - someone who has to act like an owner.

I also really believe in the idea of the trust - a rainy day fund that you can set aside and which is protected, for your family or future generations. 

But I am also sensitive to the fact that for certain cultures, people resident in certain countries, or even just certain people like Mr. X, it can be hard to come to terms with the loss of ownership involved with creating a trust. Or impossible to do so for legal or tax reasons. 

For clients like these, then, how best to offer a trustee service, without a trust actually being involved? Is it as simple as a power of attorney or a contract? I'm not sure. These documents give authority, definitely, but they generally also serve to limit liabilities or responsibilities, not impose and widen them! And I think you lose this notion of having to think like an owner, which is important.  

So I thought I would open the question up to my network for their thoughts, and, of course, advice.