NAMING A CO - TRUSTEE: 

WHEN TO DO IT:

FREQUENTLY ASKED QUESTIONS: 

1.  WHAT IS A CO - TRUSTEE ?

Answer:   A Co - Trustee is a person you name to help you with the business of the Trust.

A husband and wife are Co - Trustees on a Trust.  Either spouse can conduct the business of a Trust.  

When there is only one Trust, and  the Trustee needs help with the day to day business of the Trust, a Co - Trustee is appointed.  

2.  WHEN SHOULD I CONSIDER A CO - TRUSTEE ARRANGEMENT ? 

Answer:  Usually, when a client gets older, they run into situations where they need a little extra help with their personal and financial affairs.

The Co - Trustee can take over all the business of the Trust.   However, you, as the original Trustee, continue to stay on as a Trustee and handle whatever business you want to handle.

3.  CAN I FIRE THE CO - TRUSTEE IF I WANT TO ?

Answer:  Yes.  As the founder of the Trust (the Trustor)  you have the ability and the power to hire a Co - Trustee and to fire a Co - Trustee.   You still remain in power with regard to your Trust Assets.

4.  COULD MY PARENTS BENEFIT FROM THIS ?

Answer:  Yes.  Some parents need to step down from the day to day business of the Trust. 

A Co - Trustee arrangement empowers the person they want to act on their behalf.   

5.   HOW DO I GET STARTED WITH SETTING UP A CO - TRUSTEE ?

Answer:  Just call me at (818) 244-1894 and let me know what the situation is.  I will take it from there.