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A trustee takes legal ownership of the assets held by a trust and assumes fiduciary responsibility for managing those assets and carrying out the purposes of the trust.
all words any words phrase. co-trustee. n. a trustee of a trust when there is more than one trustee serving at the same time, usually with the same powers and obligations. Occasionally a co-trustee may be a temporary fill-in, as when the original trustee is ill but recovers.
When there are multiple trustees appointed to manage a trust, they are called co-trustees. A trustee manages and administers a trust, including selling and distributing trust property, and filing taxes for trust income when necessary.
When there are multiple trustees appointed to manage a trust, they are called co-trustees. A trustee manages and administers a trust, including selling and distributing trust property, and filing taxes for trust income when necessary.
A Successor Trustee is the person responsible for administering and settling a Trust after the creator (called the Grantor) of the Trust dies. A Successor Trustee is also responsible for the Trust in the event the Grantor becomes incapacitated or unable to make decisions.
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When there are multiple trustees appointed to manage a trust, they are called co-trustees. A trustee manages and administers a trust, including selling and distributing trust property, and filing taxes for trust income when necessary.
A co-trustee is a person or entity that serves as a legal owner of trust property. They hold and administers the property for the advantage of named beneficiaries. Trusts are created by property owners, aka grantor, trustor, or settlor. A property owner can be one individual or many, in the case of joint ownership.
Having two trustees can act as a safeguard, since there is a second person with access to records and responsibility for management and monitoring. In theory, having two trustees reduces the burden on each, since the work is shared.
Choose people you can rely on to be your trustees and make sure theyre happy to take on this responsibility. You should have at least two trustees but can choose up to four.
Choose people you can rely on to be your trustees and make sure theyre happy to take on this responsibility. You should have at least two trustees but can choose up to four.

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