Successor Trustee Forms Withdrawal
Description
How to fill out Consent Of Successor Trustee To Appointment Following Resignation Of Original Trustee?
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FAQ
Other times they simply neglect their administrative duties or make unwise investment decisions. In such cases, it may be possible to have the successor trustee replaced by filing a petition for removal with the probate court.
Trustee resignation sometimes occurs prior to the administration of the trust. In this scenario, the named successor trustee should inform the trust administration attorney that they wish to resign and sign a document called Declination to Serve as Trustee.
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.
Typically, the settlor (i.e., the person who created and funded the trust) is the trustee until incapacity or death. Upon the settlor's incapacity, the successor trustee will need to obtain whatever certificates the trust document requires in order to establish incapacity and take authority.
I, __________________, Trustee of __________________________________ do. hereby resign on _______________ (Date) all of my Trustee responsibilities, rights, title, and any other interest whatsoever I may have or had in this trust or trusts.