Legal Question in Wills and Trusts in Virginia
co-trustees of a revocable living trust
If husband and wife are co-trustees of each of their revocable living trusts, what financial transactions require the approval of both of them? When would only one trustee's approval be needed?
Asked on 7/14/09, 11:08 am
1 Answer from Attorneys
Michael Hendrickson
Law Office Michael E. Hendrickson
Re: co-trustees of a revocable living trust
Without reviewing the respective revocable living trust instruments, it would likely be difficult to say for certain (in my opinion), but one might hazard a guess that any major or signifcant transactions would probably require the signatures and approval of both co-trustees(assuming that both are alive and competent at the time).
Answered on 7/14/09, 10:42 pm