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Simple English definitions for legal terms

cotrustee

Read a random definition: strepitus judicialis

A quick definition of cotrustee:

A cotrustee, also known as a joint trustee, is a person who helps manage a trust along with other trustees. Sometimes, a trust needs more than one trustee because it is very large or has complicated things to take care of. The trustees can have different jobs or have the same power, but they all have to do what is best for the people who will benefit from the trust.

A more thorough explanation:

Cotrustee (also known as joint trustee) refers to a person who manages a trust along with other trustees. A trust can have multiple trustees, which may be necessary for large trusts or those involving complex assets. The trustees can have equal authority or specific roles to play, but they are all bound by the traditional fiduciary duties to the beneficiaries as in every trust.

For example, a wealthy individual may establish a trust to manage their assets and provide for their family after their death. They may appoint two of their children as cotrustees to manage the trust together. Both cotrustees have equal authority and must work together to make decisions that benefit the trust's beneficiaries.

In another example, a business owner may establish a trust to manage their company's assets and ensure their employees are taken care of after their death. They may appoint a cotrustee who is an experienced accountant to manage the financial aspects of the trust while another cotrustee, who is a family member, manages the day-to-day operations of the business.

These examples illustrate how cotrustees can work together to manage a trust and ensure that the beneficiaries' interests are protected. By appointing multiple trustees, the trust can benefit from their different skills and expertise.

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jackfrost11770
16:47
YEAHHHHHH DINOOOO
how did @sleepytimeteabear get waitlisted from gtown and upenn with a 180
thanks guys, im fucking stoked. its my first decision so far
and from my alma mater :')
mushroomroundtop01
16:48
and thats such a huge decision too omg so happy for u
jackfrost11770
16:48
If I signed up for a Cornell lets talk thing but my train was 30 minutes late and now I defiantly can't show up is it alright if I just don't .... I don't want it to affect me lmfao
jackfrost11770
16:48
how many ppls usually show up to those things
<3 much love to yall. i gtg back to work now but thanks for celebrating w me
jackfrost11770
16:49
They have one every month don't they
i cant imagine cornell keeping track of who goes to the lets talk
i mean maybe?
jackfrost11770
16:50
I mean they asked for lsac number but yeah I don't imagine they specifically keep track? Gtown does tho ....
jackfrost11770
16:50
But gtown is special lmfao
jackfrost11770
16:50
In a bad way
16:51
Do you need camera on/mic on for those Lets Talk Cornell things? I kinda want to attend but I'm at work
jackfrost11770
16:51
I have no idea I've never been to one
jackfrost11770
16:51
Hence Idk what to expect even capacity wise
jackfrost11770
16:51
But I'm literally still 30 minutes from home and it's in 10 min so unless I join on my phone with no camera or mic then I cannot lmao
jackfrost11770
16:55
You know what if Cornell don't want me they don't me I'm not worrying myself over this
16:57
There was a Vandy wave today?
GodsPlanUltimately
16:57
@jackfrost11770: What a excellent mindset. Cornell must have poor taste
1. Kansas 196. Cornell
nope cornell can be 2.
cornell is incredibly based
our professors are sigmapilled goonmaxxers
i see, a quality education
GodsPlanUltimately
16:59
Interesting folks.
jackfrost11770
17:00
Cornell put me on reserve after interview they are at least slightly unbased
@jackfrost11770: thats why they sit at 2
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