Definition of LIFETIME TRUSTEE:
(noun) / a trustee acting under a lifetime trust (SCPA § 103 )
Plain English Translation: There are trusts made by a person during life (aka living trusts) and there are trusts created within a last will and testament that only go into effect after the creator dies and once the will is admitted to probate (testamentary trusts). The trustee of a lifetime trust is referred to as a lifetime trustee (vs a testamentary trustee).
Do You Need The Help Of An Estate & Trust Litigation Attorney In The New York Metro Area?
If you need legal help with an estate issue you should speak with an experienced estate litigation attorney as soon as possible. Contact us online or call our New York City office directly at 212.227.2424 to schedule your free consultation. We proudly serve clients in Brooklyn, Manhattan, Queens, Staten Island, Nassau County, Westchester County and throughout New York as well as northern New Jersey.