Assertion: successor | /r/CapableOf | accept the role of trustee
Facets:
value: in that case
type: TEMPORAL
value: formally
type: MANNER
Source sentences:
text: From a substantive (i.e., non-tax) perspective, while it is true that assets held through a formerly revocable trust do not need to go through probate after the grantor's death, a successor trustee frequently needs to take over the administration of the bust; in that case, the successor formally accepts the role of trustee and effectively communicates the change in trustee to the financial firms holding the bust's assets.