Can estate funds be held while a new trustee is chosen? | NC

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Q: Can estate funds be held temporarily somewhere while a new trustee is being chosen for the beneficiaries who need ongoing trust management? A: Yes — usually they can. If a beneficiary’s share is supposed to stay in trust, it generally should not be paid out directly just because the current trustee is resigning or a replacement has not been chosen yet. The first step is to check the trust or…