Affidavit Of Successor Trustee Form Utah
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How to fill out Affidavit Of Successor Trustee Form Utah?
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FAQ
Trustees can be easily changed on a revocable trust since the trust instrument's grantor is still alive and in charge, and changing the trustee is as simple as adding an amendment to an existing trust. You can write a new Trust and nullify the old Trust.
Both the settlor and/or beneficiary can be a trustee, however if a beneficiary is a trustee it could lead to a conflict of interest especially when trustees have the power to decide by how much each beneficiary can benefit.
It's perfectly legal to name a beneficiary of the trust (someone who will receive trust property after your death) as successor trustee. In fact, it's common. EXAMPLE: Mildred names her only child, Allison, as both sole beneficiary of her living trust and successor trustee of the living trust.
Additionally, the trust must be managed and administered by a person who is a resident of the United States. It does not matter if the successor trustee is an American citizen or not. As long as the trustee is a resident of this country and administers the trust here, it should not be classified as a foreign trust.
Identification of the PartiesCounty. The county where the affidavit is being recorded and real property is located.Affiant name.Decedent name.Vesting deed execution date.Settlor.Trust name, date, and original trustee.