Personal Finance & Estate › Wills, trusts & estate planning › Revocable living trust
Successor trustee & trustee duties
· Legal document or tool
Law or rule (2026)Set by statute, regulation or the agency; numbers change yearly.
The person or firm that takes over a living trust when its creator dies or becomes incapacitated, bound by legal fiduciary duties.
See it on the Personal Finance & Estate map →How it works
California law sets the duties: act only in beneficiaries' interest, avoid self-dealing, invest prudently, treat beneficiaries impartially, keep records and account at least yearly. After a death, the trustee must mail notice to heirs and beneficiaries within 60 days, which starts a 120-day window to contest. Then: gather assets, get date-of-death values, pay debts and taxes, and distribute. Trustees can be held personally liable for breaches. Choose for honesty and organization; a licensed professional fiduciary or bank can serve or co-serve.
Why it matters for you
The trust is only as good as the person running it; a weak or conflicted trustee can cost heirs more than probate would have.
Think of it like
Like a property manager under a strict management agreement: run it for the owners, report regularly, never self-deal.
Rules, limits and sources (2026)
California Probate Code Secs. 16000 onward (duties), 16047 (prudent investor rule), 16060–16062 (information and accountings) and 16061.7 (notice); the Professional Fiduciaries Bureau licenses paid fiduciaries.
Watch out for
California sets no fixed trustee fee, only 'reasonable' pay; banks often charge about 1% of assets a year, and disputes end up in court.
Connections (2)
▸Successor trustee & trustee duties takes over management of Revocable living trustLaw or rule (2026)
How they connect
The trust names who takes over when you die, resign or become incapacitated, usually confirmed by a doctor's letter. The successor steps in without a court appointment, shows banks and title companies a certification of trust as proof of authority, and must then follow the trust's terms and California's fiduciary duties.
When it applies
Takes effect at the creator's death or incapacity; commonly a spouse first, then an adult child, sibling, professional fiduciary or bank.
The rule
California Probate Code Sec. 18100.5 lets trustees use a short certification instead of the full trust; duties appear in Secs. 16000 onward.
Watch out for
Choosing among children can strain families; whether to name co-trustees or a neutral professional is a judgment call.
▸Successor trustee & trustee duties often call for Choosing a fiduciary advisor (fee-only, CFP, CPA, attorney)Standard practice
How they connect
A successor trustee carries legal duties, such as prudent investing, notices, accountings and tax filings, usually without training. Hiring a trust attorney, a CPA for the final and trust tax returns, and possibly a fiduciary advisor, paid from the trust, helps meet them. Choose them by the same tests: fiduciary status and clear fees.
When it applies
At a parent's incapacity or death, when the successor trustee takes over; many families hire help in the first weeks, since trust notices are due within 60 days after a death.
How sure?
California Probate Code Sec. 16047 imposes the prudent investor rule and Sec. 16052 lets trustees delegate investing with care; the state licenses professional fiduciaries.
Watch out for
How much professional help is worth its cost depends on the estate; fees must be 'reasonable,' a standard heirs often dispute.