Co-Trustees

9 Oct 2025 · 1 min

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In this instructional segment, Jerry Taylor explains how to select and work with dual (co-) trustees in estate planning. He emphasizes that trustees must be people you trust implicitly and who possess the administrative ability to manage trust distribution. He notes that co‑trustees must reach consensus on decisions, as most trust actions are governed by the trust’s provisions, but some discretionary choices will fall to the trustees. He warns that harmonious co‑trustees can function smoothly, whereas discord between them can create serious problems that should be avoided when appointing trustees.

Chapters

What's your opinion on dual trustees? First off, when you are choosing trustees, it needs to be someone that you trust implicitly. Number two would be someone who has the ability to be able to handle all the administrative matters that are associated with distributing and administering a trust. Thing you have to remember is that those two people are going to have to agree on the decisions that are going to be made. Now, most everything in the trust is going to be determined and controlled by the provisions that you have put in your trust. But there will be some decisions that the trustee or the trustees, if you have more than one, will have to make on their own. If they get along very well, then it may work out fine. If they do not tend to get along, then that could cause huge problems that you just don't need to set yourself up for when you're deciding who your trustees are going to be.