Can a trust not have a successor trustee?
If no one you named in the trust document can serve, the last trustee to serve has the power to appoint, in writing, another successor trustee. EXAMPLE: To continue the previous example, if Nicole were ill and didn’t have the energy to serve as successor trustee, she could appoint someone else to serve as trustee.
What if a trust Cannot be found?
If you cannot find a loved one’s Trust documents, you may end up in Probate Court. In this case, if you and other loved ones saw or read a Trust, you may provide testimony to the court regarding its contents. The Probate Court then distributes assets and property from an Estate to its intended beneficiaries.
How do you find missing trusts?
If you can’t find original living trust documents, you can contact the California Bar Association for assistance. Trusts aren’t recorded anywhere, so you can’t go to the County Recorder’s office in the courthouse to ask to see a copy of the trust.
What happens if no successor trustee is named in a living trust?
My Dad died and copies of a revocable living trust were provided to some of the beneficiaries. No successor trustee was named and the children do not want his present wife to act as trustee. Is the trust even valid? If so, how do we get a trustee appointed? Thank you. Ask a lawyer – it’s free!
Who is the trustee of a revocable trust?
Most trustmakers act as trustees of their revocable trusts, unlike with an irrevocable trust where someone else must be appointed. A successor trustee waits in the wings to take over when you can no longer manage the trust yourself.
Can a secondary beneficiary receive a copy of a trust?
Some beneficiaries may be entitled to an immediate and outright distribution or have the right to receive immediate income and principal from the trust. State law will dictate if secondary beneficiaries—beneficiaries who will inherit property after the initial beneficiaries die—should also receive a copy of the trust.
Who is the trustee of the Smith Trust?
For example, real property held in the trust is titled in the trustee’s name as “John Smith, Trustee of the Smith Family Trust dated 2/1/2006.”
My Dad died and copies of a revocable living trust were provided to some of the beneficiaries. No successor trustee was named and the children do not want his present wife to act as trustee. Is the trust even valid? If so, how do we get a trustee appointed? Thank you. Ask a lawyer – it’s free!
Who is the trustee of the missing Trust?
His surviving wife, Rita, serving as trustee, engaged in some transactions regarding the land that eventually led to two lawsuits and a lot of family finger-pointing. It was left up to the court to determine the terms of the missing trust.
What happens to a trust when the trustee dies?
When this happens, the will becomes public record for anyone to read. However, trusts aren’t recorded. Not having to file the trust with the court is one of the biggest benefits of a trust because it keeps the settlement a private matter between the successor trustees and trust beneficiaries.
Some beneficiaries may be entitled to an immediate and outright distribution or have the right to receive immediate income and principal from the trust. State law will dictate if secondary beneficiaries—beneficiaries who will inherit property after the initial beneficiaries die—should also receive a copy of the trust.