Appointment of Successor Trustee
(NJ)

Summary

This template is a stand-alone appointment of a successor trustee for a revocable trust. It may be used in New Jersey. This template includes practical guidance, drafting notes, and an alternate clause. While most trust instruments nominate one or more successor trustees or successor co-trustees, the designated persons or entities may not be able or willing to serve. Therefore, it may become necessary or appropriate to nominate one or more successor trustees or successor co-trustees of a revocable living trust. Typically, a trust agreement reserves this power to the grantor, who may use this template in lieu of an amendment to the trust. However, if the trust continues after the grantor's death, the trust instrument should authorize third parties, such as the grantor's spouse, the last acting trustee, or the beneficiaries of the trust, the power to appoint one or more successor trustees or successor co-trustees. Further, the trust agreement should provide the procedure for filling a vacancy in the trusteeship. If the trust instrument does not offer a viable means of filling a vacancy in the office of trustee, N.J. Stat. Ann. § 3B:31-49(c) authorizes the beneficiaries to appoint a successor by unanimous agreement. Barring such agreement, it would be necessary to petition the court and obtain an order appointing a successor trustee or successor co-trustees. N.J. Stat. Ann. § 3B:31-49(c). For a full listing of key content on creating an estate plan for an individual with a spouse or partner residing in New Jersey, see Estate Plan for Individual with Spouse or Partner Resource Kit (NJ). For more information on trusts in general, see Characteristics and Uses of Trusts (NJ) and Revocation, Amendment, and Termination of Trusts (NJ).