Understanding the Duties and Responsibilities of a Successor Trustee
What You Will Need To Do At The Grantor's Incapacity And/or Death
16. What Does The Successor Trustee Do At Incapacity?
• Oversees care of ill person
• Understands insurance benefits and
limitations
• Looks after care of any minors and
dependents
• Applies for disability benefits
• Puts together team of advisors
• Notifies bank and others
• Transacts necessary business
• Keeps accurate records and accounting