Legal Question in Wills and Trusts in Florida
Substitution of name for trustee
When a designated trustee declines the appointment, can the name be whited out and the new trustee name be inserted in the blank space? The cost to have a new trust document would be another $750, that is hard to come by.
Asked on 9/15/03, 8:53 am
1 Answer from Attorneys
Re: Substitution of name for trustee
It depends on what kind of trust it is. If it is a revocable trust under which the settlor retained the power to modify the trust, the document can just be amended. If it is an irrevocable trust or it has become irrevocable because of death of the settlor and there was no alternate trustee named in the document, then the court must appoint a new one.
Answered on 9/15/03, 10:46 am
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