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What is a trustee succession plan?

A trustee succession plan defines what will happen when a current trustee leaves, retires or dies. Having a succession plan in place for your trust gives your governance strength and longevity.

Trustees should create the plan early on, so that if a trustee leaves suddenly, the process is already in place.

Talking with your owners about this will help to recruit our future governors and leaders.

What should be covered in a succession plan?

A trustee succession plan lays out:

• a process for recruiting potential trustees, including how to call for votes from owners
• names of potential future trustees
• any specific expertise the trust needs in the trustee team
• a plan for how new trustees will be brought up to speed
• useful documentation for new trustees.