Which designation refers to the trustee who takes over if the initial trustee cannot serve?

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Multiple Choice

Which designation refers to the trustee who takes over if the initial trustee cannot serve?

Explanation:
The designation for the trustee who takes over when the initial trustee cannot serve is the successor trustee. In a trust, the grantor commonly names a successor trustee to step in if the founder dies, becomes incapacitated, resigns, or is otherwise unable to act. This arrangement ensures uninterrupted administration of the trust and avoids the need for court appointment. The successor trustee inherits the same fiduciary duties and must administer the trust according to its terms. Substitute trustee is a term you might see in real estate or mortgage contexts to replace a trustee on a deed of trust, not the standard term for replacing a trustee within a trust instrument. Express trust refers to the trust itself, created by explicit terms, while resulting trust describes a trust-like arrangement imposed by law to reflect unexpressed intentions.

The designation for the trustee who takes over when the initial trustee cannot serve is the successor trustee. In a trust, the grantor commonly names a successor trustee to step in if the founder dies, becomes incapacitated, resigns, or is otherwise unable to act. This arrangement ensures uninterrupted administration of the trust and avoids the need for court appointment. The successor trustee inherits the same fiduciary duties and must administer the trust according to its terms.

Substitute trustee is a term you might see in real estate or mortgage contexts to replace a trustee on a deed of trust, not the standard term for replacing a trustee within a trust instrument. Express trust refers to the trust itself, created by explicit terms, while resulting trust describes a trust-like arrangement imposed by law to reflect unexpressed intentions.

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