Q: How does a grantor of a living trust who is of sound mind but declining health transfer control to a successor trustee?
About 10 years ago my 85 year old widowed aunt created a living trust for her special needs granddaughter. My aunt is of sound mind, but her physical health is now declining. She wants to transfer control of the trust to the successor trustee. How does she do this, and does she need to retain an attorney to do it?
A: It depends on the trust document. Each trust has its own methods of changing trustees. The document should detail the process for transferring the trusteeship to a new party somewhere.
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