A well drafted trust instrument will generally prescribe the method and manner of substitution, succession, and selection of successor trustees. Such provisions must be carefully followed. A trustee may be given the power to appoint his or her own successor. Also, a trustor may reserve, or a beneficiary may be given, the power to change trustees. This form is a sample a successor trustee accepting such appointment after the resignation of the original trustee.
This form is a generic example that may be referred to when preparing such a form for your particular state. It is for illustrative purposes only. Local laws should be consulted to determine any specific requirements for such a form in a particular jurisdiction.
Arizona Consent of Successor Trustee to Appointment Following Resignation of Original Trustee is a legal document used in the state of Arizona to formalize the transition of trusteeship within a trust agreement. When the original trustee decides to step down from their role, this document allows the successor trustee to assume the responsibilities and duties associated with the position. Key Elements of Arizona Consent of Successor Trustee to Appointment Following Resignation of Original Trustee: 1. Trustee Information: The document starts with detailed identification of the original trustee who is resigning. Their full legal name, address, and contact information are provided to ensure accuracy. 2. Successor Trustee Information: The consent form includes comprehensive details about the successor trustee. Full name, address, and contact information are required to establish their legal authority and eligibility for appointment. 3. Trust Agreement Details: The document references the original trust agreement, specifically mentioning its date of creation, the names of beneficiaries, and any specific provisions or conditions outlined in the agreement. 4. Resignation Acknowledgment: The original trustee explicitly acknowledges their resignation from the position, stating the reasons and effective date of resignation. 5. Consent of Successor Trustee: The successor trustee signs this document, providing their consent to serve as the new trustee. This signifies their understanding of the role's responsibilities and confirms their willingness to undertake them. 6. Acceptance of Appointment: The successor trustee also acknowledges their acceptance of the appointment and affirms that they will abide by the terms and conditions outlined in the original trust agreement. 7. Notarization: To validate the document, a notary public certifies the signatures of both the original trustee and the successor trustee. This ensures the authenticity and legality of the consent form. Different types of Arizona Consent of Successor Trustee to Appointment Following Resignation of Original Trustee may include variations based on the specific trust agreement or circumstances of the resignation. These could include: 1. Successor Trustee with Limited Powers: Designed for cases where the successor trustee is only responsible for certain aspects of the trust or has limited decision-making authority. 2. Alternate Successor Trustee: In some trusts, multiple successor trustees are appointed in a specific order. This type of consent form would differ to clarify the appointment of the alternate successor trustee after the primary successor declines or resigns. 3. Successor Trustee for Specific Period: When a trust arrangement requires a temporary successor trustee due to the absence or unavailability of the original trustee, a consent document reflecting the limited term of appointment can be used. Note: The information provided here should not be considered legal advice. It is recommended to consult with an attorney or legal professional familiar with Arizona laws for precise guidance regarding Arizona Consent of Successor Trustee to Appointment Following Resignation of Original Trustee.
