New Blog 1: Affidavit Of Change Of Trustee

Thursday, 13 December 2012

Affidavit Of Change Of Trustee

A living trust is a revocable trust created during its creator's lifetime. The creator is also the trustee, and he can tweak its terms any time he likes. He can also name another trustee, if he wishes, and remove that trustee at any time. When the creator of the trust dies, however, his trust becomes irrevocable. This shifts the power to his successor trustee, the individual he named to take over for him after his death. Under some circumstances, California law allows the decedent's beneficiaries to remove the named successor trustee and nominate someone else to serve instead. Collect documentation to prove your position that the court should remove the existing trustee. You must have grounds to remove and replace the trustee. In California, these grounds include refusal or failure to perform the tasks associated with the job, bickering with co-trustees to the point where the behavior impedes settlement of the trust or a breach of fiduciary duty, meaning that the successor trustee committed some act that was detrimental to the trust or its beneficiaries.