What is the expectation for co-fiduciaries when fulfilling their duties?

Co-fiduciaries have a responsibility to work together in fulfilling their duties, and collaboration is essential in ensuring that the interests of the beneficiaries are met effectively. When co-fiduciaries come together to make decisions, they can pool their knowledge and perspectives, leading to more informed and balanced outcomes. This joint decision-making process fosters accountability and enhances transparency, which is crucial in maintaining the trust placed in them by the beneficiaries and the legal system.

Acting independently could lead to conflicting actions or decisions that do not serve the best interests of the estate or beneficiaries. Additionally, prioritizing personal interests over those of the beneficiaries negatively undermines the fundamental duties of fiduciaries, which are grounded in loyalty and fairness. Overall, the expectation for fiduciaries to collaborate ensures that they uphold their fiduciary responsibilities and act in a manner that best serves the needs and interests of those they represent.