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Estate Planning >> Trusts & Living Trusts >> co-trustee vs successor trustee

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Discussion: co-trustee vs successor trustee-
#62, posted 23 Oct 2021 5:50 pm80 words
Lilly (Offline)

Joined 23 Oct 2021 5:42 pm

1 post

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.


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