Cotrustee (also known as joint trustee) refers to a manager of a trust with multiple trustees. A trust can be established with numerous trustees which may be necessary for large trusts or those involving complex assets. The trustees can have equal authority or have specific roles to play, but they are all bound by the traditional fiduciary duties to the beneficiaries as in every trust.
[Last updated in June of 2021 by the Wex Definitions Team]