Legal Question in Wills and Trusts in New York

when a testamentary irrevocable trust names a Successor Trustee in the Trust Agreement and the existing Trustee resigns, is any kind of action needed by the Surrogate's Court to appoint the Successor Trustee, or do they automatically acquire the powers of the Trustee upon resignation of the preceding Trustee?


Asked on 11/07/23, 12:25 am

1 Answer from Attorneys
Richard Bryan Richard Bryan Attorney PC

You need new Letters. The Successor should make sure to have the prior trustee prepare an accounting so the successor knows he or she is taking over as the responsible person with the accounts in good order, for what it's worth.

Good luck

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Answered on 11/07/23, 10:33 am


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