In trust administration, this document serves as an official notice to all parties involved in a fund transfer. Issued by the Oregon Department of Consumer and Business Services Division of Finance and Corporate Securities, it follows the requirements of ORS 97.941(8), which mandates a 30-day notification period before any trusteeship transfer takes effect.
You need to complete this document when a trustee or depository responsible for managing specific funds steps down and a new party takes over those responsibilities. Common situations include the retirement or resignation of the current trustee, the death or incapacitation of the existing trustee, the appointment of a new financial institution as master trustee, and organizational restructuring of the managing entity.
The document collects identifying details for both the outgoing and incoming trustees. Before you begin, gather the following:
Both parties must sign to confirm agreement and ensure a legally valid transfer. The completed document may be photocopied for record-keeping.
Oregon law requires that certified providers give at least 30 days of written notice before any trusteeship transfer takes effect. This period allows all parties to review account information, prepare documentation, and address any concerns before the new trustee assumes full responsibility. The form captures all the information necessary to satisfy this statutory requirement in one place.
Depending on your situation, you may also need to complete other trust-related documents. Review these commonly used forms:
| Question | Answer |
|---|---|
| Form Name | Appointment Successor Trustee Form |
| Form Length | 1 pages |
| Fillable? | No |
| Fillable fields | 0 |
| Avg. time to fill out | 15 sec |
| Other names | successor trustee acceptance form, acceptance of appointment as successor trustee form, sample successor trustee acceptance letter, trustee acceptance letter template |