Common use of REMOVAL OF SUCCESSOR TRUSTEES Clause in Contracts

REMOVAL OF SUCCESSOR TRUSTEES. A Successor Trustee may be removed by the last individual to serve as Trustee; however, if that person is deceased or incapacitated, the Successor Trustee may be removed by a majority vote in interest in Trust income. Said removal must be in writing, stating the reasons for removal and indicate the successor Trustee, which must be a corporate trustee.

Appears in 8 contracts

Samples: Revocable Living Trust Agreement, Revocable Living Trust Agreement, Revocable Living Trust Agreement

AutoNDA by SimpleDocs
Draft better contracts in just 5 minutes Get the weekly Law Insider newsletter packed with expert videos, webinars, ebooks, and more!