Can Successor Trustee name Beneficiary as new trustee of CA rvcble living trust after death of trustee?

That would be like having the fox watch the chicken coup. What you are proposing is clearly against the intent and plain reading of the creator of the trust. If your father did not know what he was doing or was under duress or threat you might have a claim in court. The two siblings have vested legal rights in this trust and your cousin (and you) would be risking legal action civilly and perhaps criminally for embezzlement or self dealing. The only other option would be if you had the trust and trustee confirmed in court and the brothers testified that they had no objection and you could prove that there is a good reason to go against the wishes of your father a judge might, grant you your wish. One other argument is that the trust is essentially without value if the only asset is a house with no equity. The trust does not give full distribution in the sense that you have stated but clearly instructs the trustee to distsribute as needed for health, education and welfare. I understand that this must be frustrating for you but it is what it is.

As a supplemental answer, many states permit a trustee to terminate a trust if all of the current and contingent beneficiaries, as well as the trustee, agree. This may be possible to handle by agreement, without court intervention, depending upon CA law. Alternatively, since the trust has what we call an 'ascertainable standard' for distribtion, naming you as the trustee is not necessarily out of the question. You would still need to adhere to the trust terms as trustee, and only distribute assets to yourself in accordance with the trust provisions as indicated. Otherwise, the contingent beneficiaries could claim that you breached your fiduciary duties. Finally, if the trust has terms within it regarding termination for smaller trusts (you need to check the language), that may provide an available avenue. I would suggest to invest the time for a consultation with an experienced estate planning attorney, who should be able to quickly review the options for you. LEGAL DISCLAIMER Atty. Coulter is licensed to practice law in Pensylvania with offices in Monroeville, PA and Wexford/Sewickly, PA. His phone number is 412-253-PLAN and his email address is [email protected]. This response is not legal advice and does not create an attorney/client relationship. This response is only a form of legal education. It is intended to only provide general information about the matter within the question. Oftentimes the question does not include significant and important facts and timelines that if known could significantly change the reply or make the reply unsuitable. Atty. Coulter strongly advises the questioner to confer with an attorney in his or her state in order to ensure proper advice is received. By using this site you understand and agree that there is no attorney client relationship or confidentiality between you and the attorney responding. This site should not be used as a substitute for competent legal advice from a licensed attorney that practices in the subject area in your state, who is familiar with your specific facts and all of the circumstances and with whom you have an attorney client relationship. The law changes frequently and varies from state to state. The information and materials provided are general in nature, and may not apply to a specific factual or legal circumstance described in the question or omitted from the question. Circular 230 Disclaimer - Any information in this comment may not be used to eliminate or reduce penalties by the IRS or any other governmental agency.

The answer may be simple depending on what the trust document states. If the trust gives E the power to designate a successor trustee, which is a fairly common provision, then he could name you as Trustee. You could not automatically distribute the trust to yourself, but you could decide when distributions were required for health, maintenance and support. If the Trust does not have the necessary provision, then you could confirm the transfer of trustee from E to you in Court. It all comes down to the Trust provisions. But there are ways to do what you seek, it's not impossible.

The answers from the Nevada and Pennsylvania attorneys are not applicable in California. You have a couple of options, but you should check with a California lawyer before moving forward. The terms of the trust are important. Plus, the important part is HOW you do it, not WHAT you do. First, I wouldn't have your uncle step down just yet. He can do things that you can't, even if you were appointed trustee. One option would be to have all the beneficiaries (including your uncles) agree to modify the trust. In California, even an irrevocable trust can be changed if the beneficiaries consent. Or, you might "decant" the trust. In this case, that would mean that you would purchase the house for fair market value. You would get credit for the mortgage balance if you assumed the loan. So, if the house has little or no equity, your out-of-pocket purchase money would be very little. (I would recommend paying SOMETHING, even if the house is upside down.) Suppose you paid $200, then the trust would then own $200. It would be a fair trade, so the contingent beneficiaries wouldn't have a basis for opposing. Then, if you died, the $200 would be distributed to your uncles. Again, you can't just DO this. You have to give proper notices to the beneficiaries, and you should petition the court for approval. It would be VERY risky to do this without a lawyer. But, a lawyer shouldn't charge too much for this. It should run between $2,000 and $3,000 in attorney fees unless there is something weird going on. www.privatecounsel.com