Death of a Fiduciary

What happens on the death of a fiduciary? That is, who takes over as trustee, conservator, agent on a power of attorney or other fiduciary? And what do they have to do to assume their new role? Death of a fiduciary is not often anticipated. It’s hard to think that you might outlive the person you name to take over on your own incapacity or death. But you might be surprised at how often we see the problem arise. The problems are at least two-fold. How do we know who is next in line, and what steps do they have to take to secure their authority? We talk about the problems and how we see them arise in this podcast episode. We hope this information is helpful to you if you are acting as fiduciary. It should also help you in planning your own trustee succession, or selecting agents for your own power(s) of attorney.