When a trust is written, the settlor, or person creating the trust, chooses someone to serve as successor trustee. Often the settlor chooses several people who are named in order.
After the creator of a trust passes away, you may need to step in as successor trustee. It is important to understand the basic guidelines of the role.
Pour-Over Wills allows the owner to name only one beneficiary: the Living Trust. This can help make California estate administration easier.
Successor trustees have important responsibilities as they administer trusts. One such duty is to file the necessary estate and income taxes. Learn more here.
Riverside trust and probate litigation attorney Scott Grossman checks in from the MIT campus in Cambridge, Massachusetts, to let folks back in California know that time is NOT on your side if you are considering filing suit in a trust or probate litigation matter.