Do Successor Trustees Have Power of Attorney?

When a person establishes a trust, he appoints one person to be the initial trustee of his estate. However, a successor trustee can be named to oversee the state should the initial trustee become incapacitated.

Duties

• A successor trustee has the same rights and duties of the initial trustee, including powers of attorney. He also collects and manages the trust assets, pays expenses, taxes and any debts and is responsible for distribution of asset balance to beneficiaries.

Powers

• The successor trustee has the same power as the initial trustee in handling the affairs as outlined in the trust. Though he may have to prove the initial trustee's incapacity to them, institutions such as banks and courts must recognize the successor's power and transact with him in the same manner as they would the initial trustee.

Tenure

• When a person designates an initial trustee to oversee her estate, she may list a successor trustee in the event the initial one becomes incapacitated. Should the initial trustee become incapacitated and can not fulfill her duties, the successor trustee then attains her role. This initial role is continued until such time when the initial trustee returns to her overseeing duties. At that time, the successor must return those duties to the returning trustee.