Who takes as trustee of a living trust when the successor trustee dies?
My Aunt was successor trustee over my mom's trust and now she has passed away. Who takes over now and what happens to the rest of the money in the trust account?
Delbarton, West Virginia
Wills, Trusts and Estates Law
Is this objectionable?
Lawyer Answers
The Trust Agreement should specify who will succeed your aunt as the next successor trustee. Typically, the next named successor trustee can access the money that was in your aunt's trust account. Often, the bank where your aunt's trust account was held will want to have a copy of the death certificate of the deceased trustee, as well as a copy of the trust agreement or a certificate of trust outlining who the successor trustee is.
