If a child is irresponsible with money or does not work well with his or her siblings, designating him or her as a co-trustee
will not improve relations among the siblings, but will increase the potential for conflict among them.
Also, having co-trustees
usually means having each of them sign every piece of paper or document affecting the trust.
Jack" Frost paid himself an unauthorized salary as follows: 1993 $67,452 1994 $339,600 1995 $354,441 1996 $478,514 1997 * $170,118 * Through May 19, when he resigned as co-trustee
Mr Williams said the most serious aspect of the case involved a trust fund of which Ms Cheong was co-trustee
in no event may a co-trustee
who is also a beneficiary be permitted to make decisions regarding discretionary distributions from the trust.
In 1995, I became an acting co-trustee
and executor for a client who died and left a large and complex estate, primarily in trust.
Additionally, a Special Needs Trust can be effectively administered by a trustee (one who manages the trust) or co-trustee
to manage the finances and personal effects of a person with a disability, in lieu of a court-appointed general conservatorship or guardianship.
Frost was accused of taking the money while serving as co-trustee
of the Jones Trust with Bernice Jones, the 96-year-old Springdale philanthropist and widow of Jones Truck Lines Inc.
If, after considering the pros and cons, you would like to help your client but are concerned about the risks, you might consider acting as a "special co-trustee
Also, I would like the Levy Board to become a co-trustee
of IBAS, alongside Trinity Mirror and SIS.
should be named, or a successor trustee can be designated, to step in if you are certified incompetent by more than one doctor.
Mr Gidney was both managing director of his Gidney Securities group and co-trustee
of the pension fund with his son Mr Simon Gidney.