Legal Question in Wills and Trusts in California
2nd trustee
what is a second trustee? when is it used --why??
2 Answers from Attorneys
Re: 2nd trustee
it can be a replacement trustee for when the original trustee can no longer perform their duties or it may be a co-trustee where they have to act together. Without reading the terms of the trust, I am afraid this is the best answer I can give you.
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Re: 2nd trustee
You may be using the wrong term. In setting up a trust or any legal entity, one often names an alternative to serve if the first person or institution can not or will not. Or are you talking about a second deed of trust, which is a loan made after the first loan on a property?