Get Resignation by Trustee Named in a Trust Instrument

Obtain a Trustee Resignation Form from the court, online, or from an attorney and complete and sign it in the presence of a witness and notary. Make three copies of your resignation. Give one to the new trustee in the “Trust Kit”, one to the trust beneficiary, and keep one on file.

The short answer to the question is that yes, it is possible to remove or replace a Trustee during trust administration under certain circumstances. ... As such, the Settlor can remove a Trustee if the trust is revocable. If the trust is irrevocable, the Settlor does not have the power to remove the Trustee.

The Uniform Trust Code, adopted by 21 states, allows a trustee to resign on 30 days notice to the trust grantor, all qualified beneficiaries and all co-trustees.

The said provision provides that the trustees are entitled to resign as trustee of any trust by providing a notice in writing to that effect to the Master and the ascertained beneficiaries who have legal capacity, or to the tutors or curators of the trust under tutorship or curatorship.

Removal by the Trustor Trust agreements usually allow the trustor to remove a trustee, including a successor trustee. This may be done at any time, without the trustee giving reason for the removal. To do so, the trustor executes an amendment to the trust agreement.

When a Trustee resigns, they must still act in the best interests of the Trust and the Trust beneficiaries. That means the Trust assets must be managed prudently while a new Trustee is selected. Further, the Trustee is required to provide an accounting to the Trust beneficiaries upon resignation.

Obtain a Trustee Resignation Form from the court, online, or from an attorney and complete and sign it in the presence of a witness and notary. Make three copies of your resignation. Give one to the new trustee in the “Trust Kit”, one to the trust beneficiary, and keep one on file.

If the trust is irrevocable, you need to have the consent of all of the adult beneficiaries of the trust in order to resign. The law also allows you to petition the court to accept your resignation as trustee.

Follow the terms of the Trust. Typically, a letter of resignation will suffice but Trust terms control unless silent. No recording or notary is specifically required either, but a notarization of the resignation certainly wouldn't hurt at all. ...

When a Trustee resigns, they must still act in the best interests of the Trust and the Trust beneficiaries. That means the Trust assets must be managed prudently while a new Trustee is selected. Further, the Trustee is required to provide an accounting to the Trust beneficiaries upon resignation.