living trust question

What is the name of your state (only U.S. law)? Florida, Question on a living trust. Mother is now trustee due to father passing away. Three kids are now setup in the trust to be cotrustees if she passes away. If her durable power of attorney kicks in due to her being incapable of making decisions could the sister that would have power of attorney step in and change the trust or once the mother is incapable of acting does that power go to the three kids as co-trustees?

"The living trust typically provides that in the event of the grantor’s incapacity a successor beneficiary automatically takes over the administration of trust property. Incapacity is a defined term within the trust document, and procedures for determining the grantor’s incapacity are set forth in the trust. The incapacity provisions of a living trust permit the grantor and his family to avoid a public guardianship in the event that the grantor becomes unable to manage his trust property."

"While the trustee, usually the grantor, is incapacitated, the successor trustee of the living trust would manage the trust assets. The role of the successor trustee, appointed in the declaration of trust, is to assume the duties of trustee and mange trust assets when a predetermined event such as incapacity or disability occurs or upon the death of the grantor, assumed to be the original trustee. Upon the grantor's death, the successor trustee manages and distributes the living trust assets for the benefit of the trust beneficiaries based on the terms and conditions in the declaration of trust."

curb,

if you want to quote a particular passage because you think it is helpful, it is best to at least put in the url of the web site. most sites are not allowed to have posts from other sites without permission.

nok,

seldom does a power of attorney have the power to change a trust document.

and there are some trust documents that prohibit the use of a power of attorney.

i personally use that in my own documents.

a power of attorney is not all that powerful. it is not a document that institutions like to honor, cuz it comes back to bite them.

i think of a poa as something to use when i cant use anything else.

much depends on what you are trying to do.

if you present a poa to a bank, and ask them to withdraw $10,000 - good luck. if you ask them for a $100, you would probably get it.

in other words, institutions do not want to be on the hook for too much.

few people who go to the trouble of having a trust written for them while they are of sound mind, want someone making changes to that trust once they are incapacitated.