My sister passed out 2 months ago, she appointed me as trustee. and I'm unable to act. the trust document doesn't say who is the next trustee The trust including all her asset for 2 houses and 2 banks account. My questions:
1-Can I appoint her child (above 21) to acts as the trustee without going to court?
2- Can I sign letter to him to be the trustee in front of notary public or need to be notarized.
3- I notified the kids about the trust, Is there a certain time limit for me to appoint a new trustee or no time limit?( from the death)
Thank u , i would like to consult a lawyer but not sure if I need to know the answers before i do so i be prepared me or the son to go to the lawyer.
My sympathies on the passing of your sister. The trust would have to have specific language permitting you to appoint the next successor trustee. It might, but most do not. Without the trust terms providing you with a clear mechanism of how to deal with this, someone will need to petition the court. But, that isn't as much of a problem as it sounds. Usually one petition, one hearing, in and out. Fairly easy, and it doesn't take long. I strongly recommend you see a trust administration attorney as soon as possible. They can review the trust and see if it has a method to appoiint a successor, and help you get that done. If court is needed, they can handle that as well. There are several issues with unadministered trusts, so please get this looked at at your earliest convenience. If you don't want to pull the oar on this, your niece/nephew can see the attorney and get this done as well. The attorney would prepare a simple document to clarify you are declining to serve. Good Luck!
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