Trusteeship Acceptance
(PA)

Summary

This template is an acceptance of trusteeship to be used by a successor trustee named in a revocable or irrevocable trust agreement. Banks may wish to see this document when a trustee is opening or modifying accounts in the name of the trust. This template is suitable for use in Pennsylvania and includes practical guidance, drafting notes, and an alternate clause. Use this template when the incumbent trustee (who, in the case of a revocable trust, is often the settlor or grantor of the trust) has died, resigned, or is otherwise no longer willing or able to serve. Under Pennsylvania law, a trusteeship is accepted when the trustee substantially complies with a method of acceptance set forth in the trust instrument, or, if no method is specified in the trust instrument, the trustee accepts delivery of trust property, exercises powers, or performs duties as trustee, or indicates acceptance of the trusteeship in some other way. 20 Pa. Cons. Stat. § 7761(a). See also 20 Pa. Cons. Stat. § 7761(c). A trustee is deemed to have rejected the trusteeship if he or she does not accept the trusteeship within a reasonable time of being informed of it. 20 Pa. Cons. Stat. § 7761(b) This template should be adapted to reflect the terms used in the trust agreement. For example, if the person assuming trusteeship is not the original successor trustee named in the trust agreement, modify the template to reflect that. For more information about trusts, see Characteristics and Uses of Trusts (PA), Requirements and Restrictions on Trust Purposes and Administration (PA), and Revocation, Amendment, and Termination of Trusts (PA). For a template declining a trusteeship, see Trusteeship Declination (PA).