Legal Discussion Board, Advice, Information, Legal Aid and Legal Issue
Trusts & Living Trusts
co-trustee vs successor trustee
23 Oct 2021
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.