Legal Articles

Interim Trustee Powers Pending Delivery of Trust Property

When a trustee has resigned or been removed as trustee, the trustee still may possess continuing or interim authority as trustee. Specifically — unless there are cotrustees — and until the trust property is delivered to a successor trustee or other person entitled to it, a trustee who has been removed or resigned has “the…

Trust Termination, Trustee Final Accounting

Unless there are specific terms in a trust document providing otherwise, a trust terminates and ends generally when the “trustee gives a final accounting and conveys the trust property to the beneficiaries.” Shannon v. Johnson, 741 S.W.2d 791, 794 (Mo. Ct. App. 1987). A trust’s termination date is important for numerous reasons, not the least of…

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