Can a Successor Trustee Be Removed

Understanding the Role of a Successor Trustee

A successor trustee is an individual appointed to manage and administer a trust after the original trustee’s death or incapacity. This person has a fiduciary duty to act in the best interest of the beneficiaries and ensure the proper administration of the trust.

Successor Trustee Responsibilities

The successor trustee’s primary responsibilities include managing trust assets, distributing trust property according to the terms of the trust, and communicating with beneficiaries. They must also ensure that all taxes and debts are paid before making distributions to beneficiaries.

Grounds for Removing a Successor Trustee

There are several reasons a successor trustee may be removed. Some of these include:

Breach of Fiduciary Duty

A successor trustee can be removed if they fail to fulfill their fiduciary duties, such as acting in the best interest of the beneficiaries or failing to properly manage trust assets.

Incapacity or Incompetence

If the successor trustee becomes incapacitated or is no longer able to effectively manage the trust, they can be removed.

Mismanagement of Trust Assets

The successor trustee may be removed if they are found to be mismanaging trust assets, such as making poor investment decisions or using trust funds for personal gain.

Conflicts of Interest

A successor trustee may be removed if they have a conflict of interest that prevents them from acting in the best interest of the trust and its beneficiaries.

How to Remove a Successor Trustee

If you believe that a successor trustee should be removed, the following steps must be taken:

Petitioning the Court

A beneficiary or another interested party can file a petition with the court, providing evidence of the grounds for removal. The court will then review the petition and determine if removal is warranted.

Seeking Legal Assistance

Removing a successor trustee can be a complex and daunting process. It is advisable to consult with an experienced trust and probate litigation attorney to ensure that your case is handled effectively and efficiently.

Hess-Verdon & Associates: Expert Trust and Probate Litigation Attorneys

At Hess-Verdon & Associates, we pride ourselves on our unparalleled estate planning expertise and our commitment to delivering comprehensive, results-oriented legal counsel. With over three decades of experience in estate planning, business, and commercial litigation, our team has extensive knowledge in trial preparation, strategy, and presentation. We are dedicated to serving trustees, beneficiaries, business entities, and real estate partners with our dependability and sophistication in trust and probate litigation.

Conclusion

In summary, a successor trustee can be removed under certain circumstances, such as breach of fiduciary duty, incapacity, or mismanagement of trust assets. If you believe a successor trustee should be removed, it is crucial to seek legal assistance from an experienced trust and probate litigation attorney, like those at Hess-Verdon & Associates. Call us today at 1-888-318-4430 for a consultation.

FAQs

What is a successor trustee? 

A successor trustee is an individual appointed to manage and administer a trust after the original trustee’s death or incapacity.

Can a successor trustee be removed? 

Yes, a successor trustee can be removed under certain circumstances, such as breach of fiduciary duty, incapacity, or mismanagement of trust assets.

How can a successor trustee be removed? 

To remove a successor trustee, a beneficiary or another interested party must file a petition with the court, providing evidence of the grounds for removal.

Do I need an attorney to remove a successor trustee? 

While it is not required to have an attorney, it is highly recommended to consult with an experienced trust and probate litigation attorney to ensure your case is handled effectively and efficiently.

How can Hess-Verdon & Associates help with removing a successor trustee? 

Hess-Verdon & Associates can provide comprehensive legal counsel and representation in trust and probate litigation, helping clients navigate the complex process of removing a successor trustee.