Page 11 - Successor Trustee Handbook

CHAPTER 3

CHECKLIST OF IMMEDIATE ACTIONS

UPON DISABILITY OR INCAPACITY

This chapter is designed to enable you, the person named as the “Successor Trustee” in
someone’s Living Trust, to handle the affairs of the person who set up the Trust (the
“Trustor”), when that person becomes disabled, incapacitated, or otherwise is unable or
just unwilling to act as his or her own Trustee. You may be married to the Trustor and
have been serving as Co-Trustee along with him or her. You may be a child of the
Trustor, or a distant relative, friend, or independent third party stepping in. This is not
intended as an exhaustive or detailed list of all the actions which should be taken by you
as Trustee. Rather, it is intended to give you a brief, general checklist which will help
you immediately step in and handle those items that demand your attention first. After
reviewing this checklist, it is recommended that you then read through the rest of this
Manual (beginning at the Chapter, “Reviewing the Trust (and Other Estate Plan
Documents)”). These other portions of the Manual will provide you with significantly
more detail and explanation of the actions on this checklist, as well as further actions
you may need to take as Trustee.

The following actions are recommended upon the disability, incapacity, inability or
unwillingness of the Trustor to act as Trustee (some of these may also apply if the Trustor
voluntarily resigns as Trustee; see the Chapter, “Transition to Another Trustee”):

If you are the Trustor’s spouse, or another close family member, and the Trustor’s
incapacity has happened suddenly, the most important thing is to take care of
yourself first. Shock and trauma can take unexpected forms. Most actions that
will need to be taken do not have to be done immediately and, if you act too
quickly out of worry or anxiety, you may do the wrong things and make bad
decisions. You should contact a family member or friend who can spend time
with you, either by phone or in person, during the next few hours or days, until
such time as you are emotionally stable and can pursue the other items on this
checklist. Avoid entering contracts for anything while you are still in a highly
emotional state and avoid spending or lending large sums of money.

Contact by telephone or otherwise notify the immediately family, close friends,
business colleagues and the Trustor’s employer (even if the Trustor has retired,
as there may be some company benefits still available).

Arrange for the care of members of the immediate family who may need
continuing personal attention, including appropriate in-home living assistance
or childcare.

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