Appointment of Successor Trustee for Revocable Trust: Settlor is Not Outgoing Trustee (New York)

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About this template
This legal template pertains to the appointment of a successor trustee for a revocable trust under the jurisdiction of New York, United States. It specifically addresses situations where the settlor (the individual who established the trust) is not the outgoing trustee.

A revocable trust is a legal entity created to hold assets and distribute them according to the settlor's instructions. The settlor often acts as the initial trustee, managing and controlling the trust's affairs during their lifetime. However, circumstances may arise where the settlor can no longer fulfill this role due to various reasons such as incapacitation, death, or the desire to step down voluntarily.

In such cases, it becomes necessary to appoint a successor trustee who will assume the trustee's responsibilities and administer the trust in accordance with its terms and the applicable laws. This legal template ensures compliance with the specific legal requirements and procedures dictated by New York state law.

While this template mainly focuses on the appointment of a successor trustee, it may also cover associated provisions such as the method of selection, requirements for eligible successors, the successor trustee's powers and duties, guidelines for trust administration, and any special considerations or restrictions explicitly stated by the settlor.

It is important to note that this legal template is tailored specifically for trust-related matters governed by New York state law within the United States.
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