Who can appoint a successor trustee?

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Who can appoint a successor trustee?

A trustee created a trust in the favor of 3 beneficiaries; 1 of the beneficiaries being the trustee himself. But the trustee has passsed away. Can the other 2 beneficiaries appoint a new trustee now? If not, what happens now? The trustee died leaving no Will.

Asked on July 9, 2011 under Estate Planning, Vermont

Answers:

M.T.G., Member, New York Bar / FreeAdvice Contributing Attorney

Answered 10 years ago | Contributor

I am so sorry for your loss.  Reading the trust document would be a big help here.  Does the trust name a trust advisor or a trust protector?  Under Vermont statutes either of those parties named would be able to appoint a successor trustee for the trust.  If not then you may have to make an application to the Court to appoint a successor trustee.  It would be easiest if all of you agreed to who would be appointed as any discord will only result in a hearing and a delay.  Please bring the trust to an attorney to read on your behalf. Then you can decide how to proceed in the most efficient way. Good luck. 


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