Understanding the Duties and Responsibilities of a Successor Trustee
What You Will Need To Do At The Grantor's Incapacity And/or Death
1. Overview
If you have been named as the successor trustee in someone's living trust, you may be wondering what you are supposed to do. You can relax a bit, because you don't do anything right now. You will only begin to act when the person becomes unable to manage his or her financial affairs due to incapacity, or when he or she dies.
However, it is important that you know ahead of time what your duties and responsibilities will be. These FAQs will help. Let's start with some explanations.