QUESTION
A joint Irrevocable living trust specifies an initial trustee followed by a successor trustee. Are the grantors of the trust also trustee''s?
Asked on Apr 23rd, 2012 on Trusts and Estates - Missouri
More details to this question:
Trust calls the grantor''s....."grantors" but does not say they are trustee''s. Are the grantor''s automatically trustee''s or does the trust have to specifiy that?
1 ANSWER
nathan forck
No, the grantors are not automatically trustees, although they certainly can be if the trust says that they are. The trustee/successor trustees are the trustees and unless the grantor is specifically named as such, they should not be considered trustees.
Answered on Aug 09th, 2012 at 1:23 PM