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Who takes over as trustee after the two of us?

q135 questions.yaml · questions.yaml:432 documentsfiles

Question

Who takes over as trustee after the two of us?
A good answer

Ellen first, then David, then Kate (paragraph 4.3 of the trust). If none of the three can serve, a majority of the children name a bank or trust company. It is in no record, only in the trust.

Ellen

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Supporting records

The records the answer rests on, from from, with whose they are.

Whose: Peg Ostrander (document_subject), Ray (document_subject)
created2019-06-03
folderfolder-estate
about
- me
- ray
nameOstrander Family Revocable Trust - our copy, signed May 14, 2019
Traps it covers

only_in_file Facts that are in no record field but overlap across files, in different words. The appraised values of the Omega ($4,150) and the pearls ($1,900) are in the 2024 appraisal and on the valuables schedule; the 2016 appraisal has older figures. The successor trustees and the specific gifts are in the trust. What happens to the cabin is in the trust (sold), in the amendment that replaced that paragraph (kept by the three children; the saved amendment is a scan with no text) and in the lawyer's letter that explains the amendment. Ray's 2026 required withdrawal ($28,012.02) is on the IRA statement and in the advisor's letter, and the 2025 tax summary gives it as "about $28,000". The porch change order is in the contract; the receipt says only that the porch came in $800 over.

mismatch Paragraph 7.2 of the 2019 trust says the cabin is to be sold. The 2023 amendment replaced that paragraph: the cabin goes to the three children, cannot be sold for five years unless all agree, and $60,000 is set aside for it. The amendment is right. The trust also names five grandchildren for the $15,000 gifts; the amendment makes it every grandchild, so June is included.