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What is a 'successor trustee'?

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karnold

Junior Member
What is the difference, if any, between a trust executor and a successor trustee in a revocable trust when grantor dies? Does a successor trustee actually inherit the property, or simply the duty to administer it according to the trust for the benefit of the beficiaries? Thank you for your help.
 


ALawyer

Senior Member
A successor trustee only takes on responsibility to administer the trust, and does NOT by virtue thereof inherit anything. Fees for the time and responsibility may be charged however, in accordance with the trust and state law.

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