By changing the trustee, the trust is not automatically terminated. If a new trustee is appointed, then all of the trust property, and trustee duties are transferred to the new trustee.
Depending on the nature of the change, often the new appointment can result in the creation of a new trust.
This information is of a general nature only and does not constitute professional advice. You must seek professional advice in relation to your particular circumstances before acting.
Updated — Aug 20, 2015