Trust

It would have been nice to know the state you are in, but generally, there is either an administrative clause in the trust document itself for the nomination of another successor trustee, or the probate/equity/surrogacy court will have to appoint a new trustee. Some trusts demand the trust be dissolved up the end of the trustees term and for the assets to be distributed to the beneficiaries. It just depends upon the documents and the state you are in.

For a general idea about trusts, please refer to the Uniform Trust Code. Here's the link:

http://www.nccusl.org/Update/uniformact_summari...

Because many states have their own bodies of trust law and don't follow the UTC, you will need to speak with good local Wills, Trusts and Estate Counsel for the specifics of how your case will turn out.

I hope this helps!

I agree with Craig. If you are considering a Revocable Living Trust, have a look at UNDERSTANDING LIVING TRUSTS, by Vickie Schumacher. This is a great resource written for non-lawyers -so it is pretty understandable! Vickie has a great website: www.estateplanning.com. If you are putting together a living trust, be sure to provide some mechanism for the removal of a trustee. This is particularly important if the trust continues in "irrevocable" mode after the death of the maker.

I agree that the answer is going to depend on what provisions -- if any -- may be in the trust document and state law. Under Massachusetts law, if the trust does not give any direction about what to do in the event of the death of the sole trustee, someone with an interest in the trust will need to file a petition in the Probate and Family Court requesting the appointment of a trustee -- either by name or requesting the judge to appoint one of the attorneys he or she knows has the necessary experience. All the beneficiaries will need to receive notice, which will provide a "drop dead" date by which to file objections. If there are any beneficiaries who are minors, disabled, or whereabouts unknown, the Court will appoint a guardian ad litem to represent their interests. If there are no objections, there will be a brief hearing and the appointment will be made.

If you are in Massachusetts, I would be pleased to review the trust with you.