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A successor trustee who is dealing with a simple living trust, which is intended only to serve as a substitute for a will, can probably wrap up the job in a few weeks or months. Some trusts, however, are designed to last for many months or years.
FOR BREACHES OF FIDUCIARY DUTY? Successor-Trustees If the trustee commits a breach of trust and is thereafter removed as trustee or otherwise ceases to be trustee and a successor trustee is appointed, the successor trustee can maintain a suit against the predecessor trustee to redress the breach of trust. Restatement 2d of Trusts Â§ 200, comment f. (1959). The successor trustee may, moreover, also have a responsibility to take reasonable steps to uncover and redress any