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Simple English definitions for legal terms

cotrustee

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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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got my second LSAT this Thursday. Thinking taking a restful approach. drilling today and doing some light reading and relaxing for the next two, good strat?
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good strat i would say
don't do any studying the night before for SURE, but reading for pleasure is a good idea!1
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BET. I've found that getting a habit of reading helped my RC score more than months of studying lol.
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it's true though!!! reading is the best thing you can do for RC (in my opinion)
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