David Johnson presented his paper "The More The Merrier? Issues Arising From Co-Trustees Administering Trusts" to the State Bar of Texas's Advanced Estate Planning and Probate Course on June 9, 2021. This presentation addressed the advantages and drawbacks for co-trustee management, who can be a co-trustee and succession issues, fiduciary duties and joint management, the duty and right to participate in management and cooperation, delegation of duties between co-trustees, the duty to disclose, co-trustee compensation, co-trustee deadlock and methods for breaking same, liability for co-trustee's actions, third party reliance on co-trustee's actions, the duty to sue a co-trustee, the payment of costs of litigation (ultimate and in the interim), litigation issues, attorney/client privilege issues, and drafting issues.
The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.
The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.
