QUESTION
Is it legal if the grantor is the initial trustee but the successor trustee signed the living trust as trustee?
Asked on Jan 31st, 2016 on Estate Planning - California
More details to this question:
This person is not co-trustee either. Also the secondary trustee is also the notary on this document which is a 3rd amendment to the original. The secondary trustee is also the attorney who made the changes which are huge. Took his grandson, who grantor had raised and put the grandson's ex-wife to get everything. The ex-wife is also the successor trustee whose signature is on the doc as "Trustee".
1 ANSWER
You are confusing various legal terms. A trustor sets up a trust to be administrated by the trustee according to the instructions in the trust document. Anyone can be the trustee and prepare the language of the trust. If no trust existed until the second trustee was appointed, then that "second" trustee is actually the initial trustee. If the trustor is still alive, ask him why the changes were made and did he/she know what the changes meant.
Answered on Feb 29th, 2016 at 5:23 PM