Get a Consultation

Hess-Verdon & Associates

Call us Today

What Happens To The Trust When The Trustee Dies

What happens to a trust when the trustee dies

A trust typically becomes irrevocable upon the Trustor’s death, with a named Successor Trustee taking over the administration as per the trust document’s provisions.

by | Oct 17, 2023

Can a Co-Trustee Act Alone?

In the event that the Successor Trustee passes away during the asset distribution phase, the co-trustee will take over the trust administration. It’s important to keep the courts informed about this change. An estate planning attorney should be consulted to navigate these circumstances properly. Transparency with the beneficiaries is essential to adhere to fiduciary duties. The co-trustee will ensure that updates on the Trust Administration process, including all relevant information about the co-trustee’s actions, are communicated.

Understanding the process of distributing the assets to the beneficiaries is crucial, especially in complex situations such as the death of a trustee.

What happens to an irrevocable trust when the trustee dies

Upon the death of an irrevocable trust’s trustee, the trust document typically designates a successor trustee, which could be an individual or a trust company, to continue the trust’s administration.

What happens when one of two trustees dies

The death of one trustee, in a situation where there are two, typically leads to the trust’s provisions for succession coming into effect. The trust document should outline the process for the remaining trustee or the appointment of a new Successor Trustee to continue the administration of the trust.

Who will appoint a Trustee if No Beneficiary Wants to take on the Responsibility?

Should there be only one successor trustee without a provision for a co-trustee in the Trust document, a new trustee will be appointed by a probate judge, considering various factors, including any beneficiary recommendations for the nominee.

What is the main objective of the probate court in this context? The primary goal is to ensure the trust remains out of probate court whenever possible, with the Trust document typically providing a hierarchy of successor trustees.

Key takeaway: Including multiple potential trustees within the Trust is essential. This way, if a trustee is unable to serve due to death, resignation, or incapacity, the Trust can appoint a new trustee without necessitating probate court intervention.

As for a co-trustee’s ability to continue serving alone or with a newly appointed co-trustee, this will depend on the specific terms set forth within the trust. Beneficiaries or other financially interested parties may petition the court for the appointment of a specific trustee. In scenarios where no family members or relatives are willing to serve as trustee, the court might appoint a professional fiduciary.

What happens if a trust beneficiary dies before funds are disbursed?

If a beneficiary passes away during the trust administration process, the trust document will dictate the subsequent steps. Often, the deceased beneficiary’s share may be reallocated among the remaining beneficiaries or, in some cases, passed to the immediate family of the deceased beneficiary, especially if children are involved. It’s crucial to consult with the trust and estate planning attorney for guidance on asset distribution under these circumstances.

Choosing the Right Trust Estate Litigation Lawyer is Crucial

Searching for an Orange County Trust Litigation attorney?  Hess-Verdon & Associates is one of the most knowledgable and most sophisticated trusts and estate law firm in the state of California at both the trial and appellate levels.

Our legal team of Trust Attorneys in Orange County, are well versed in estate planning, trust administration, and trust litigation.

Our viewpoint is the following:  Aggressive legal representation with a team of experts that protect you, our preferred client, with current tax and estate planning strategies.

Our litigation team has spent years acquiring extensive experience in trial preparation, strategy, and trial presentation to help you with your specific case.

We welcome the opportunity to discuss your needs, our qualifications, staffing approaches, and rate structures with a view toward the successful resolution of Estate, and trust-related matters.

Learn more about our Living Trust Attorneys.

Trust & Probate Litigation AttorneyCall Us At 949-706-7300

Trust Administration

Are you looking for a trust administration in the Newport Beach area? When it comes to the practice of Trust and estates, it can be difficult finding an attorney that’s experienced in handling your specific issues.

Request a consultation today.

With over 30+ years of law, 3000+ clients throughout our tenure,
you can receive in-depth legal counsel today.

Trust administration manages the assets in a trust according to the Trust’s terms to benefit the heirs and beneficiaries following the grantor’s death. Trust administration is a multi-step process that involves mountainous paperwork and dealings with courts. Working with a trust attorney can be instrumental in streamlining the whole process.

What Happens To A Trust When The Trustee Dies

Trust and Estate Planning

Our managing partners have practiced law for over 30+ years. We have deep court experience, and after 3000+ clients throughout our tenure, you will receive in-depth knowledge in trust & estates, business, and real estate matters.
Request a no-obligation case review today. Feel free to call, and our helpful staff will set you up with one of our specialized attorneys.

Contact us today.