California Affidavit - Change of Trustee
Definition and meaning
The California Affidavit - Change of Trustee is a legal document used when there is a need to update the trustee of a trust. A trustee is a person or entity appointed to manage the trust's assets on behalf of the beneficiaries. In California, this affidavit must be executed under the California Probate Code Section 18105.
Who should use this form
This form should be used by individuals or entities designated as successor trustees when the original trustee can no longer perform their duties. It is applicable in cases of resignation, incompetency, or death of the previous trustee.
Key components of the form
The key components of the California Affidavit - Change of Trustee include:
- The name of the trust.
- Details of the settlor(s).
- The previous trustee(s) and their reason for resignation.
- A verification that the trust has not been revoked or modified.
- Legal description of any property within the trust.
How to complete a form
To complete the California Affidavit - Change of Trustee, follow these steps:
- Fill in the name of the trust and the date it was executed.
- List the names of the settlor(s) and previous trustee(s).
- Indicate reasons for the successor trusteeship.
- Attach any required legal descriptions of property as Exhibit 'A'.
- Sign the affidavit and have it notarized.
Form popularity
FAQ
Modifying an Irrevocable Trust under California Law Under Probate Code §15404(a) any trust may be modified or terminated by the written consent of the settlor and all beneficiaries without court approval of the modification or termination.
Just follow the Trust terms. The Trust may require you to send written notice to the Trustee to remove them. Once you follow that directive, the Trustee must step down and a successor Trustee can be appointed. If another person has the right to remove and replace the Trustee, then you would want to talk to that person.
A Petition is filed under PC 17200 to appoint a successor trustee. All trustees and beneficiaries sign a consent. At least one beneficiary or trustee signs a nomination of a new trustee. Always look to the trust to see if a successor is named.
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.
An affidavit of successor trustee is filed when a trustee is removed or has died and is being replaced with the successor trustee. This is common in trusts (or joint tenancy) when it's written that if anything should happen to the trustee, the successor trustee will take over ownership.
A petition for removal of a trustee can be filed by either a co-trustee or a beneficiary. The petition may also seek financial damages from the trustee. Sufficient evidence needs to be submitted to show the court that the trustee violated the terms of the trust agreement or their fiduciary duty.
To remove the trustee of an irrevocable trust, a court must get involved. To start the process, a party with an interest in the trust (like a beneficiary or a co-trustee) must file a petition with the appropriate court requesting that the court remove the trustee.
The affidavit of successor trustee for California specifically requires that you provide proof of incapacity (most commonly a death certificate) and evidence that you have the authority to act as successor trustee (the Trust with any amendments).