Appointment of a successor trustee refers to the process of having a new trustee take over management of a trust. Most trusts are managed by their creators during their lifetime. But trusts don’t die with their makers, and that is why a successor trustee takes over. Successor trustees step in to administer a trust after …
Removing a successor trustee is possible, and generally requires filing a petition for removal, while working with a trust litigation attorney. For trust litigators, a common question is whether a successor trustee can be removed or replaced. Successor trustees don’t always manage the trust effectively, or respect the grantor’s true wishes. Sometimes successor trustees will …
Settlor of Trust, Successor Trustee, Trustor, Administrator of Trust are common terms in estate planning and trust litigation. What do they all mean? Here’s a 5-minute guide to understanding their meanings, and how they may affect you. What is a trust, trustor, and trustee? Generally, a “trust” refers to a revocable living trust. …
Meanings of Settlor of Trust, Successor Trustee, and Trustor Read More »