I am trustor of a family trust, power of attorney holder of the will and family trust, how does one pay the benificiaries designatied in the will after the trustee's demise
3 Answers from Attorneys
A new trustee, if an alternate was designated, would step in to carry out the terms of the trust; if no alternate, then a beneficiary may want to apply to the court to have a trustee appointed to carry out the terms of the trust.
I am a bit confused by the terms you are using, but looking at the context into which you are using them, it appears that you are administering a trust for the Settlor of a family trust. If this is the case, there are various steps that need to be followed in order to appropriately administer the Trust and protect you as Trustee. Many of these steps can be quite tedious and there is a potential for personal liability if done incorrectly. You may want to seek a consultation with an estate attorney to better answer your question. Just as our office does, many estate attorneys provide free 1/2 hour consultations. You may be best served to contact one and schedule a meeting to best protect the estate and yourself.
If you have any follow up questions, I would be glad to assist.
The trustor/ settlor is the one who sets up the trust. He or she is usually the initial trustee, and the trust instrument will provide for a power of appointment for successor trustees. You are all mixed up in your terminology.
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