Who should be named as successor trustee and what does a successor trustee do?
Successor trustees can be individuals, such as adult children, other relatives, or trusted friends, and/or a corporate trustee. If you become incapacitated, your successor trustee looks after your care and manages your financial affairs for as long as needed, using your assets to pay your expenses. If you recover, you automatically resume control. When you die, your successor trustee pays your debts and distributes your assets. All this is done quickly and privately, according to instructions in your Revocable Living Trust, without court interference.
