What happens to a trust when the grantor dies?

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Well, first it depends on the type of trust we’re dealing with, but in general, if we’re dealing with a revocable living trust, that trust becomes irrevocable. And that means it cannot be modified, altered, or amended. And at that point, whoever is the named successor trustee, they are in charge of marshaling the trust assets, which means collecting those assets, any assets that are presently owned by the trust, any assets that may be repayable to the trust by way of the deceased state of

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death, the trustee is responsible for marshaling those, inventorying all of those, securing those assets, and ultimately distributing those assets to the named beneficiaries under the trust agreement in accordance with the terms of the trust.

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