You have a trust account and the trustee becomes incapable of handling their duties. What documentation or proof is required for the successor trustee(s) to provide as proof of this incapacity so they may take over these duties?
The trust instrument should clearly state the conditions under which a trustee will be deemed unable to continue and should specify the procedure for the successor trustee to step in. For example, it might say the successor trustee will serve upon written resignation of the trustee, or upon certification by two doctors that the original trustee is incapacitated or incompetent, or upon the death of the trustee.
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The trust instrument should clearly state the conditions under which a trustee will be deemed unable to continue and should specify the procedure for the successor trustee to step in. For example, it might say the successor trustee will serve upon written resignation of the trustee, or upon certification by two doctors that the original trustee is incapacitated or incompetent, or upon the death of the trustee.
