New Trustee Appointment Form For Trustee
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FAQ
A Successor Trustee is named second in line to serve as Trustee. Most often, the person who creates the Trust is Trustee until he or she is incapacitated or passes away.
The trust deed itself may contain express powers of appointing, retiring and removing trustees. It is usual for the settlor of the trust to retain this power or for an independent person (called an appointor) to be given the power.
Under this deed you (the settlor/donor/grantee) can appoint new trustees to your Trust in place of trustees who wish to retire. Upon completing this deed, there must be no less than two and no more than four trustees.
Trustees will usually be appointed by the instrument that brings the trust into existence. The trust instrument should also make provision for any additional appointments that may be necessary during the continuance of the trust.
Trustees can be easily changed on a revocable trust since the trust instrument's grantor is still alive and in charge, and changing the trustee is as simple as adding an amendment to an existing trust. You can write a new Trust and nullify the old Trust.