Understanding the Duties and Responsibilities of a Successor Trustee
What You Will Need To Do At The Grantor's Incapacity And/or Death
3. How does a living trust work?
For a living trust to work properly, you must transfer your assets into it. Titles must be changed from your "individual" name to the name of your trust. Because your name is no longer on the titles, there is no reason for the court to get involved if you become incapacitated or when you die. This makes it very easy for someone (a successor trustee) to step in and manage your financial affairs.