Unexpected complications may arise with irrevocable trusts—one of the most overlooked events is the death of a trustee in Coral Gables. Although grantors appoint trustees with the expectation that they will remain alive to administer the trust, that outcome is not always guaranteed.
Our firm helps grantors and beneficiaries navigate these unforeseen disruptions to their estate plans. Before you take action or make changes on your own, consult our experienced trusts attorney to explore your options with confidence and clarity.
Although any loss of life is tragic, the death of a co-trustee may not immediately affect your estate plan in Coral Gables. The extent of the impact depends primarily on the language in your trust document.
If your trust names multiple trustees and one dies, the remaining trustees typically continue to serve in their existing roles. For example, if two spouses are serving as trustees and one passes away, the surviving trustee may assume sole responsibility—provided the trust document authorizes this arrangement.
If your agreement requires the appointment of a successor trustee when one can no longer serve, or when a co-trustee is required by the trust agreement, you may need to designate a replacement. Our attorneys could help you review your trust and determine the appropriate next steps.
Following the death of a trustee, the named successor typically assumes the same responsibilities as the original trustee. Given the stress and uncertainty that often accompany this transition, the new trustee should begin by reviewing the trust documents thoroughly and obtaining information regarding the trust assets. Doing so provides a clear understanding of their duties and clarifies when they must step in.
In most cases, the successor trustee holds the same powers as their predecessor, collecting assets, paying outstanding debts, and distributing property to beneficiaries according to the trust’s terms. Appointing a successor promptly ensures a smoother transition and helps avoid unnecessary delays.
Another challenge may arise when both the grantor and trustee have passed away. While living grantors in Coral Gables can often resolve an issue related to a trustee’s death, that option disappears once the grantor is deceased. In such cases, the first step is to review the trust documents. If no trustees remain and the trust requires a successor, you must determine whether the grantor named someone to fill that role.
Unfortunately, many trust agreements fail to designate a successor trustee. Even when one is named, that individual may decline to serve, and without clear instructions, the responsibility shifts to the beneficiaries. If a majority can agree on a replacement, they may appoint a successor trustee to continue administering the trust.
Navigating a trust after the death of a trustee can be challenging; and whether you are the grantor or a beneficiary, you may benefit from the guidance of a Coral Gables lawyer to keep the trust on course.
Do not attempt to resolve this complex matter alone. Contact our firm promptly—we could review your options and help you determine the best path forward.
We evaluate your case and determine how we might be able to help.
We will meet with you to discuss your next options and lay out a plan.
Our team guides you throughout the process so you feel confident about your choices.
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