My question involves estate proceedings in the state of: California
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.