co-trustee


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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. The co-trustee must act in consultation with the other trustee(s), unless the language of the trust allows one co-trustee to act alone. (See: trust, trustee)

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(27) The trial court concluded that Arthur's failure to disclose these facts to Carole was a conflict of interest due to his role as co-trustee and that the settlement agreement was, therefore, ineffective.
Often the trust provides for a triggering event - such as the attainment of a certain age or death of a prior trustee -- which then results in the beneficiary assuming a trustee or co-trustee role.
Pamela Lawson's BrokerCheck records show that complaint involved making payments of $14 million from a trust account for which she was a co-trustee.
If a co-trustee is named, obtain information about the individual and his or her relationship with the trust grantor and beneficiaries.
At issue in the case were three different points: whether Donald Sterling was removed from the process in a way consistent with the Sterling Family Trust, if a probate judge had jurisdiction in deciding issues for the trust when he removed Sterling as a co-trustee, and whether the court was allowed to let the sale proceed regardless of an appeal by Donald Sterling.
When a co-owner dies, the surviving owner will normally add the deceased's personal representatives to the title as co-trustee. But there is no obligation for the surviving owner to do this.
While most of the discussion centers on the US, concluding chapters examine PTD abroad, the global public trust, and the concept of co-trustee management.
Furthermore, as described below, unless the deemed owner is the trustee or a co-trustee, filing Forms 1099 does not negate the trustees duty to prepare the grantor tax information letter and send it to the deemed owner to be reported on his or her personal return.
The independent trustee could act as the sole trustee, or, if the couple wishes to retain more control, the independent trustee could instead act as a co-trustee with the beneficiary.
Yukio Sakamoto, co-trustee of Elpida, said in July the deal would ensure creditors repayment and will help simplify approval for Elpidaa[euro](tm)s reorganisation by creditors and the Tokyo court.
During the court proceedings, Robert Rominoff's lawyers claimed that GHC Corp is "99 percent owned by the trust of which Robert is co-trustee and sole beneficiary," and that his father is interfering with his right to redeem the mortgage.
Joining with Micron also delivers a clear advantage for Elpida's customers, suppliers and employees," said Yukio Sakamoto, co-trustee of Elpida.