That depends on what kind of arrangments you have made in advance. If you are the only Managing Director and there are no Successor Managing Directors, then the Trustees may, if they know about your death, appoint a new Managing Director. If you have a Successor Managing Director under contract to become a Managing Director on your death, or if there are other Managing Directors, then the Trust operations continue on uninterrupted.
Copyright at Common Law, West El Paso Information Network, 1997