Declination To Serve As Trustee Form For Trust
Description
How to fill out Texas Recitals Regarding Declination To Serve As Successor Trustee?
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FAQ
An acceptance of office by a trustee is the mutual understanding that a person has with an estate that implies they will assume administrative duties after being nominated. Acceptance of office by trustee is basically a formal way of giving consent to serve as a trustee.
The estate attorney will typically write a demand letter and advising the Trustee that if the Trustee does not provide the Trust, that the attorney will have no choice but to compel the Trustee, pursuant to Surrogate's Court Procedures Act 2102 for a copy of the Trust.
A declination is distinguished from a resignation because a resignation signifies that a trustee is currently serving and is ceasing to serve, whereas a declination by an appointed trustee signifies the appointed trustee's non-acceptance of the appointment; the trustee never serves as trustee by signing the declination ...
A document used to decline an appointment as trustee of a revocable or irrevocable inter vivos trust or a testamentary trust. This Standard Document can be used to decline an appointment as a successor or additional trustee made in a trust instrument or by an outside appointment document.
Rather, being named to act is merely a nomination that you may either accept, or decline to accept. IF you decline to accept your nomination, it is important that you do so right away by signing a Declination To Act, and then delivering the Declination to the appropriate parties.