What is the role of a successor trustee?

The role of a successor trustee is to take over the management of a trust when the original trustee is unable to serve. This situation can arise for various reasons, including the original trustee's death, incapacity, or resignation. The successor trustee ensures that the trust continues to be administered according to its terms and in the best interest of the beneficiaries.

This responsibility includes managing the trust's assets, making distributions to beneficiaries, and fulfilling any administrative duties outlined in the trust agreement. The successor trustee acts as a fiduciary, meaning they have a legal obligation to act in the best interests of the beneficiaries and comply with the trust's provisions.

The other options do not accurately reflect the role of a successor trustee. Creating new trusts is not typically within their responsibilities, and while they can manage assets, the modification of a trust’s terms usually requires a court’s approval or specific provisions in the trust itself. Additionally, the distribution of assets, while a part of their duties, is just one aspect of the broader responsibility of managing the trust rather than a standalone role.