Governance
Learn about trust governance structures, decision-making processes, and management responsibilities. Understand how trustees make decisions and oversee trust...
How do trustees make decisions when there are multiple trustees managing a trust?
When multiple trustees manage a trust, they typically must act unanimously unless the trust document specifies otherwise. Some trusts allow majority rule for routine decisions while requiring unanimous consent for major actions like selling real estate or making large distributions. The trust document should clearly outline the decision-making process, voting procedures, and what happens if trustees disagree. Without clear governance rules, trustees may face delays and potential conflicts that could harm beneficiaries.
