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Can a Special Needs Trust Have More Than One Trustee at a Time?

Posted by Laura E. Stubberud | Nov 17, 2016 | 0 Comments

Yes, but be aware that a co-trustee can be held responsible for another co-trustee's breach of a fiduciary duty. Thus, it is important that all co-trustees pay close attention to everything that is done in the administration of the trust. If there is any question or problem, it should be communicated to the other co-trustee or co-trustees immediately.

As a general rule, where there are two or more co-trustees, all have to agree on all matters of trust administration. However, the trust document may create a different standard for agreement, such as majority rule.

In order to minimize the chances of being held responsible for someone else's poor judgment or breach of duty, a co-trustee should be sure to make a written record of any points of disagreement about trust business. In extreme cases, a co-trustee may be required to blow the whistle on other co-trustees' activities.

About the Author

Laura E. Stubberud

Laura Stubberud has over two decades of experience in the practice of estate and family law in Nevada. After graduation from UCLA, she studied law at Southwestern University School of Law , graduating in 1992. With over 25 years of practice in Clark County, Nevada, Ms. Stubberud has substantial e...

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