Results 1 to 5 of 5
  1. #1
    Join Date
    May 2012
    Posts
    3

    Default Changing a Trustee

    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

  2. #2
    Join Date
    Sep 2005
    Location
    Behind a Desk
    Posts
    73,575

    Default Re: Changing a Trustee

    Who are you?

  3. #3
    Join Date
    May 2012
    Posts
    3

    Default Re: Changing a Trustee

    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.

  4. #4
    Join Date
    Sep 2005
    Location
    Behind a Desk
    Posts
    73,575

    Default Re: Changing a Trustee

    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?

  5. #5
    Join Date
    May 2012
    Posts
    3

    Default Re: Changing a Trustee

    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.

    1. Sponsored Links
       

Similar Threads

  1. Who Can Be a Trustee
    By Cambridge in forum Condominiums and Cooperatives
    Replies: 1
    Last Post: 10-01-2009, 08:00 AM
  2. Changing a Child's Name: Changing Daughter's Last Name and Changing After Paternity Test if Under One Year Old
    By Bella88 in forum Name Change
    Replies: 1
    Last Post: 11-05-2008, 12:56 PM
  3. Chapter 7: Trustee Is Suing
    By 323145 in forum Bankruptcy Law
    Replies: 4
    Last Post: 03-31-2008, 02:19 PM
  4. Chapter 7: Trustee's Fees
    By kidviper2006 in forum Bankruptcy Law
    Replies: 1
    Last Post: 04-02-2007, 02:17 AM
  5. Trustee
    By divine_design_21 in forum Estate Administration and Probate
    Replies: 1
    Last Post: 09-30-2005, 04:42 PM

Bookmarks

Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
  •  
 
Forum Sponsor
Probate Forms
Easy to complete probate forms for all 50 states.




Untitled Document