Changing a Trustee

[fran11]

My question involves estate proceedings in the state of: California

Hi,

I have an irrevocable trust, which has a clause regarding the successor trustee, "...... Notwithstanding the foregoing, however, John Doe shall become the Trustee upon attaining the age of eighteen (18)".

The statement clearly says when John Joe comes of age, he shall become (automatically) the new trustee. Is that a correct interpretation? Do I need to do anything to make it official? Can I just take the document to the brokerage house where the trust asset is kept (stock) and change the name of the trustee?

The trust never assigned a trust protector.

Thanks!

Fran

[Mr. Knowitall]

Who are you?

[fran11]

Hi,

I am John Doe's father. Seven years ago I set up an irrevocable trust with my son as the beneficiary, and my brother-in-law as the trustee. When the trust was set up, the intention was for my son to take over and become the trustee when he becomes 18, which is wht the clause was included in the trust. Now my son is 23 already.

Thanks.

[Mr. Knowitall]

If you created a trust that says that your son becomes trustee when he turns 18, then that's what the trust does and, if he wants, he can assume that role. He can decline the responsibility. So what does junior have to say about things?

[fran11]

My son does not have any problems assuming such a role.

Can I just take the document to the brokerage house where the trust asset is kept (stock) and change the name of the trustee?

Thanks.