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Estate Planning >> Trusts & Living Trusts >> co-trustee vs successor trustee
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| Discussion: co-trustee vs successor trustee | - |
Lilly (Offline)
UNITED STATES |
| Joined 23 Oct 2021 5:42 pm
1 post
Unrated |
A widower establishes a living trust and names himself and one of his adult children as co-trustees with both being able to act individually without the other. There are also two successor trustees named on the trust document. The Grantor passes away. Does the surviving co-trustee now become what is referred to as the "Successor Trustee" or does the co-trustee simply 'cease to exist' and the first named successor trustee take over and distribute the assets?
Please answer ASAP.
Thanks.
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