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  • Petition To Remove And Replace Trustee Pursuant To ... - Vermontjudiciary

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Form 115 SUPERIOR COURT Unit 1? STATE OF VERMONT PROBATE DIVISION Unit Docket No. In re TRUST OF Decedent For the BENEFIT OF PETITION TO REMOVE AND REPLACE TRUSTEE PURSUANT TO 14A V.S.A. 706 Part.

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Death of a Trustee) If a Trustee dies and there are remaining Trustees, the surviving Trustees can appoint a replacement. If a Trustee dies and there are no remaining Trustees, the Personal Representatives of the last surviving Trustee can appoint new Trustees.

A trustee may sell trust assets to pay debts, administration expenses, and taxes. The terms of the trust dictate the scope of this power. For example, salable assets may include real estate unless the trust agreement prevents it.

As long as there are enough trustees remaining then the trustee can simply retire or else they can appoint someone else in their place before stepping down. If the trustee refuses to step down, then the first port of call is to check the trust document as that often contains express powers to remove trustees.

Of course, the Court always has the power to remove a trustee. Whether it will intervene or not depends on the circumstances and the nature of assets.

During the lifetime of the trust certain events may trigger a change of trustee. In each case this will lead to either the appointment, removal, replacement or retirement of the trustee(s) and can either by agreed between the parties (which is the usual course) or achieved by an application to the Court.

There may be a written trust deed which allows for a trustee's removal. If there isn't, then you will need to raise a court action to remove them from office.

A trust will typically have at least two trustees. However, at some point during the life of a trust, trustees may retire, die, or simply want to stop being a trustee. It is, therefore, common for trustees to be replaced or for new trustees to be appointed during the duration of the trust.

On what grounds can a trustee be removed? Breach of trust – the trustee has failed to follow the terms of the trust document. Death of a trustee – being a trustee is a personal role, it cannot be passed onto the deceased' trustee's executors. Incapacity of a trustee – if they no longer have capacity to make decisions.

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© Copyright 1997-2025
airSlate Legal Forms, Inc.
3720 Flowood Dr, Flowood, Mississippi 39232
Form Packages
Adoption
Bankruptcy
Contractors
Divorce
Home Sales
Employment
Identity Theft
Incorporation
Landlord Tenant
Living Trust
Name Change
Personal Planning
Small Business
Wills & Estates
Packages A-Z
Form Categories
Affidavits
Bankruptcy
Bill of Sale
Corporate - LLC
Divorce
Employment
Identity Theft
Internet Technology
Landlord Tenant
Living Wills
Name Change
Power of Attorney
Real Estate
Small Estates
Wills
All Forms
Forms A-Z
Form Library
Customer Service
Terms of Service
DMCA Policy
About Us
Blog
Affiliates
Contact Us
Privacy Notice
Delete My Account
Site Map
Industries
Forms in Spanish
Localized Forms
State-specific Forms
Forms Kit
Legal Guides
Real Estate Handbook
All Guides
Prepared for You
Notarize
Incorporation services
Our Customers
For Consumers
For Small Business
For Attorneys
Our Sites
US Legal Forms
USLegal
FormsPass
pdfFiller
signNow
airSlate workflows
DocHub
Instapage
Social Media
Call us now toll free:
1-877-389-0141
As seen in:
  • USA Today logo picture
  • CBC News logo picture
  • LA Times logo picture
  • The Washington Post logo picture
  • AP logo picture
  • Forbes logo picture
© Copyright 1997-2025
airSlate Legal Forms, Inc.
3720 Flowood Dr, Flowood, Mississippi 39232