Appointment of Successor Trustee For Revocable Trust: Settlor is Outgoing Trustee

This legal template titled "Appointment of Successor Trustee for Revocable Trust: Settlor is Outgoing Trustee under USA law" refers to a legally binding document that outlines the process and procedures for appointing a successor trustee for a revocable trust in accordance with the laws of the United States of America.

A revocable trust, also known as a living trust, is an estate planning tool used by individuals to manage and distribute their assets during their lifetime and after their death. The settlor, who is the person creating the trust, typically serves as the initial trustee, maintaining complete control over the trust assets. However, circumstances may arise where the settlor is no longer able or willing to continue serving in this capacity, necessitating the appointment of a successor trustee.

This legal template enables the settlor to formally designate and appoint an individual, institution, or multiple individuals to take over the responsibilities of the trustee role and administer the revocable trust according to the settlor's intentions. The template would include information such as the settlor's details, trust name, and important dates, as well as the name and contact information of the successor trustee.

By using this legal template, the outgoing trustee can ensure a smooth transition of trust administration and uphold the trust's integrity and purpose under USA law. It provides a clear record of the settlor's wishes regarding their trust, protects the interests of the beneficiaries, and legally establishes the authority and responsibilities of the newly appointed successor trustee.