Massachusetts Petition For Resignation Removal Appointment of Successor Trustee is a document filed with the Massachusetts Probate Court when a trustee of a trust resigns or is removed from their position. The Petition must include the names of the trustees, the trust name, a description of the trust, the reason for the resignation or removal, and the name of the proposed successor trustee. The Petition must be signed by the trustees, and then filed with the court. There are two types of Massachusetts Petition for Resignation Removal Appointment of Successor Trustee: voluntary resignation and involuntary removal. In a voluntary resignation, the trustees willingly resign from their position, and the court will appoint a successor trustee. In an involuntary removal, the trustees are removed from their position due to a violation of trust terms, and the court may appoint a successor trustee or appoint a different individual to serve as the trustee.
Massachusetts Petition For Resignation Removal Appointment of Successor Trustee
Description
How to fill out Massachusetts Petition For Resignation Removal Appointment Of Successor Trustee?
US Legal Forms is the easiest and most profitable method to locate suitable formal templates.
It’s the largest online repository of business and personal legal documents prepared and validated by attorneys.
Here, you can find printable and fillable forms that adhere to federal and local laws - just like your Massachusetts Petition For Resignation Removal Appointment of Successor Trustee.
Peruse the form description or preview the document to ensure you’ve found the one that meets your needs, or discover another using the search bar above.
Click Buy now when you’re confident about its suitability with all the specifications, and choose the subscription plan you like best.
- Acquiring your template involves just a few straightforward steps.
- Users who already possess an account with a valid subscription simply need to Log In to the website and download the document to their device.
- Subsequently, they can locate it in their profile in the My documents section.
- And here’s how you can obtain a suitably drafted Massachusetts Petition For Resignation Removal Appointment of Successor Trustee if you are accessing US Legal Forms for the first time.
Form popularity
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.
I regret to inform you that I will be resigning from my position on the board of trustees. I am handing in this resignation due to personal reasons and it will come into effect immediately. Please accept this letter as my official notice of immediate resignation.
Obtain a Trustee Resignation Form from your attorney or the Court and complete and sign it in the presence of a notary public. 4. Make copies of your resignation. Give a copy to the new Trustee, mail a copy to all the trust beneficiaries and keep one in your personal file.
Under Massachusetts law, unless the trust document provides for removal, a trustee may only be removed by order of court on its own or by petition of a settlor, co-trustee or beneficiary.
A trustee who has resigned or is removed has the powers reasonably necessary under the circumstances to preserve the trust property until it is delivered to the successor trustee and to perform actions necessary to complete the resigning or removed trustee's administration of the trust.
Can a trustee be forced to resign? No, a trustee generally cannot be forced to resign. However, a trustee can be non-consensually removed through court processes in some situations. Sometimes, when trustees are facing removal, they will resign voluntarily to avoid the potential costs and consequences of going to trial.
How do I resign as trustee? Any procedure outlined in the trust instrument. Obtaining the consent of the person who can revoke the trust (if the trust is revocable). Obtaining the consent of all adult beneficiaries (if the trust is not revocable). Obtaining a court order.
I regret to inform you that I will be resigning from my position on the board of trustees. I am handing in this resignation due to personal reasons and it will come into effect immediately. Please accept this letter as my official notice of immediate resignation.