Do I Need to Name a Successor Trustee

Do I Need to Name a Successor Trustee

This depends on the individual bank one is opening an account with. For example Chase requires a Successor Trustee, but TD Ameritrade requires a Co-Trustee, and other banks only require one Trustee to sign. Call the bank before the appointment to verify what they require for trustee organization!

A Successor Trustee being the person who takes over when a Trustee is incapacitated, a Co-Trustee being a person who makes mutual decisions regarding the trust. 

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