Successor Trustee...how to provide proof? - Posted by Scott (ATL)

Real Estate Investing Real Estate Law
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Posted by Bill H on March 16, 2006 at 18:42:04:

Scott:

Who is/are the beneficiaries that have power of direction…simply have them execute their power of direction and put you in as a successor trustee, record that document and take a copy of the recorded dosument to the bank.
Good Luck,
Bill H

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Successor Trustee…how to provide proof? - Posted by Scott (ATL)

Posted by Scott (ATL) on March 11, 2006 at 11:20:17:

I am a successor trustee of a trust but the bank account does not have my name recorded as a trustee. I have the certification of trust but again my name is not on this document. I’d rather not show them the entire trust naming me as a successor trustee but even if I did I imagine they (the bank) would need some other proof that the successor trustee was in fact in place now?

I can check with the bank but I thought I’d find out before hand so I could limit my trip.

Scott

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Certificate of Trustee/Affidavit of Trust - Posted by Jimmy

Posted by Jimmy on March 12, 2006 at 08:05:22:

I do not know Georgia law ( I assume that is where you are). In California, a truistee can execute either a certificate or an affidavit, depending on whether the instrument might need to be recorded.

You would have the form completed and notarized. and a copy of the trust document, showing you in the successor line-up will help.

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Re: Certificate of Trustee/Affidavit of Trust - Posted by Scott (ATL)

Posted by Scott (ATL) on March 12, 2006 at 09:27:01:

Jimmy,

Thanks…the trustee is no longer alive hence why the successor trustee is kicking in. The problem is how do I step in as trustee…well, how do businesses or in this case the bank know I’m the valid trustee when the certification of trust only lists the original trustee not the successor trustee?

Scott

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Re: Certificate of Trustee/Affidavit of Trust - Posted by Jimmy

Posted by Jimmy on March 15, 2006 at 09:00:31:

Who is named in the trust as the successor to the now-dead original trustee? If it names you, then you can have an affidavit or cert prepared. take the cert/aff plus the trust agreement to the bank.brokerage house and you are in business.

if the trust document does not name you as the successor, then you can’t just step up and claim the title.

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Re: Certificate of Trustee/Affidavit of Trust - Posted by Scott (ATL)

Posted by Scott (ATL) on March 15, 2006 at 12:38:13:

Yes, I’m named as the successor trustee but I didn’t want to bring in the entire trust. However, I guess I could just show them the page naming me as successor trustee. I have the cert of trust and the trust itself.

I’ll probably just bring it in.

Thanks!
Scott