Removal and Replacement of Trustees

Removal and Replacement of Trustees

Limitations on the grantor’s power

Current federal tax law generally permits individuals to make aggregate lifetime contributions to inter vivos trusts in excess of $5 million per individual without any out-of-pocket tax cost. Although the identity of the trustees administering a trust has always been important, the considerable value of property in inter vivos trusts highlights the importance of retaining the ability to remove and appoint trustees to ensure that trusts are managed and administered in accordance with a grantor

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