Acceptance Of Appointment As Successor Trustee Form For Trust
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FAQ
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.
A document used to accept an appointment as trustee of a revocable or irrevocable inter vivos trust or a testamentary trust. This Standard Document may be used to accept an appointment as a successor or additional trustee made in a trust instrument or by an outside appointment document.
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.
The power to appoint trustees is often contained in the trust deed and is commonly granted to either the trustee of the trust from time to time, or a third party such as the settlor or protector of the trust. Whoever has the power to appoint new or additional trustees must take into account a variety of factors.
The appointment of a new trustee under the provisions of Section 73 of Indian Trusts Act, need not be by a registered document. When none of the other provisions for retirement is capable of compliance, it is open to the trustee to be absolved from his office by application to Court.