Related Definitions
What are Co-Trustees?
Two or more individuals or entities appointed to jointly manage a trust.
Two or more individuals or entities appointed to jointly manage a trust. Co-trustees must work together to administer the trust, make investment decisions, and distribute assets according to the trust’s terms. Like co-executors, co-trustees can face legal challenges if they disagree or if beneficiaries claim that the trustees are mismanaging the trust or failing to meet their fiduciary duties.
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Related Articles
Insights and advice on trust and probate estate litigation from our blog.
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Key Takeaways What Are Co-Trustees Co-trusteeship refers to the appointment of multiple trustees to manage and administer a trust, which is a legal arrangement [...]
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- Trustees
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Key Takeaways Introduction A successor trustee is the individual first in line to take over the administration of a trust when the initial trustee [...]
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Yes, trustees can be held personally liable for losses sustained by the trust if they are found to be in breach of their fiduciary [...]
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Generally, a successor trustee cannot change or amend a trust. Most trusts are initially managed by their creator or original trustee, while they are [...]
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Can a trustee remove a beneficiary from a trust? Yes. Is it common? No. Upon the death of a decedent, most trusts become irrevocable. [...]
Can a trustee remove a beneficiary from a trust? Yes. Is it common? No. Upon the death of a decedent, most trusts become irrevocable. […]
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