Deed of Replacement

A Deed of Replacement is a legal document used to replace a trustee of a trust. A trustee may need to be replaced for a variety of reasons, including retirement, resignation, incapacity, or death. The Deed of Replacement is executed by the retiring or outgoing trustee, the new trustee, and the remaining trustees. It sets out the terms of the replacement, including the effective date of the replacement and any conditions or requirements that the new trustee must meet. The Deed of Replacement is an important legal document as it transfers legal ownership of the trust assets from the outgoing trustee to the new trustee. It also ensures that the trust is properly administered and managed by a competent and qualified trustee.