Decline 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
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.
The only way an Executor can be released from his or her duties after agreeing to take on the role is to apply for a court order that removes him or her from their responsibilities- officially called a ?Renunciation of Right to a Certificate of Appointment of Estate Trustee (or Succeeding Estate Trustee) With a Will?).
Although the law often does not require you to provide a formal written rejection of the role, it is optimal to provide written notice of your decision to all relevant parties, including the person who created the trust (if still living) and the beneficiaries of the trust.
If for any reason you are unable or unwilling to take on the onerous duties of being the estate trustee you may renounce the role without explanation or cost, provided you do so before taking any steps to administer the estate. There is actually no formal step that you must take to renounce. You simply decline to act.
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.