Legal Question in Wills and Trusts in California
Estate planning/ Living trust
My late aunt, appointed two people as her trstees. However, both have decided to resign. I am one of the heirs, and I'd like to know how a new trustee is appointed?
5 Answers from Attorneys
Re: Estate planning/ Living trust
It really depends. If the trust has a successor trustee named then that person (or people) would take over. If no successors named are the first people (who want to resign) given an option to appoint successor trustees? That could be easy. If not that then somebody (including yourself) need to petition the Court for a trustee to be appointed. Let me know if you would like to hire an attorney to help! -John
Re: Estate planning/ Living trust
The first thing to do is to look at the language of the trust. Usually, successor trustees are named in the trust, or there is some procedure for naming successor trustees.
If the language of the trust does not provide any direction, a trust company may be appointed with the approval of all beneficiaries, or you (or another interested party) will have to petition the court to name a trustee, which may include you unless the trust specifically excludes you as a trustee.
Re: Estate planning/ Living trust
You need to look at the trust document. Usually, the trust provides for successor trustees and/or a procedure for appointing a successor trustee.
If you would like a free initial consultation, please call or e-mail me with contact information. I have over 25 years experience in estate administration.
Good luck and thank you for your inquiry.
Re: Estate planning/ Living trust
First, the trust document itself will be controlling. This document may also have a procedure to be followed if there are no remaining successor trustees.
If there is no such procedure then you will likely have to petition the court. To do this you should contact a local attorney to review the Trust document(s) and discuss your options.
Let me know if you would like to discuss it.
Caleb
Re: Estate planning/ Living trust
The trust document may speak to the issue, otherwise you have to petition the probate court to appoint a Trustee.
Related Questions & Answers
-
Probate How does a will effect an estate Asked 5/24/08, 12:08 am in United States California Probate, Trusts, Wills & Estates