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What Do I Do if My Backup Trustee Dies Before Me?


Attorney Thomas B. Burton discusses the situation where someone named as a backup trustee in a Revocable Living Trust dies before the person who made the Trust (the Grantor) dies.

Click here to obtain my Free One Page Will vs. Trust Estate Planning Guide.


Transcript of Video: What Do I Do if My Backup Trustee Dies Before Me?

Today's question has to do with an old

revocable living trust let's say you have

a revocable living trust from 1995 and

it's all set up you're still living but

the trustee named in the trust has died

so the person while you're alive you're

the trustee but the person you named as

backup unfortunately pre deceased you

Now what do you need to do? Do you need

to start all over? The short answer is no

most revocable living trusts contain a

provision saying you can amend or revoke

the trust in whole or in part there also

may be a specific situation dealing with

the deaths of a trustee check your trust

and see if you named a backup

to the person who has died if you have

not consult a local attorney who can

help you draft an amendment to the trust

naming a new trustee to take over in

case of your death or incapacity this is

one of the great reasons to have a

revocable living trust they're flexible

and designed to be changed to meet your

needs as your life and circumstances

change Great question and thank you for

asking. If you have a question you'd like

answered please consider submitting it

for a future video blog question and answer

session.

© 2018 Law Office of Thomas B. Burton. All Rights Reserved.

Transcript and captions provided for ease of access for the hearing impaired.

#TrustAdministration #RevocableTrusts #WisconsinEstatePlanning #WisconsinLaw #TrustLaw

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