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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.
A successor trustee is appointed following the original manager of a trust. A successor trustee is an individual who manages and controls a trust after its trustee dies or is incapacitated.For example, the person who creates a trust, called a grantor, may be his own trustee, managing and controlling the trust's assets. successor trustee is appointed following the original manager of a trust. A successor trustee is an individual who manages and controls a trust after its trustee dies or is incapacitated.