A co-trustee is an individual or entity appointed to jointly manage a trust alongside one or more other trustees. Co-trustees share the responsibilities and decision-making authority related to administering the trust, including managing assets, making investment decisions, distributing income or assets to beneficiaries, and ensuring compliance with the terms of the trust document and applicable laws. Co-trustees typically work together collaboratively, but they may also have specific duties or areas of expertise delegated to them within the trust arrangement. Collaboration among co-trustees is essential to ensure the effective and responsible management of the trust for the benefit of its beneficiaries.
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This glossary post was last updated: 29th March 2024.
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