The Vermont Statutes Online
The Statutes below include the actions of the 2025 session of the General Assembly.
NOTE: The Vermont Statutes Online is an unofficial copy of the Vermont Statutes Annotated that is provided as a convenience.
(Cite as: 14A V.S.A. § 704)
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§ 704. Vacancy in trusteeship; appointment of successor
(a) A vacancy in a trusteeship occurs if:
(1) a person designated as trustee rejects the trusteeship;
(2) a person designated as trustee cannot be identified or does not exist;
(3) a trustee resigns;
(4) a trustee is disqualified or removed;
(5) a trustee dies; or
(6) a guardian is appointed for an individual serving as trustee.
(b) If one or more cotrustees remain in office, a vacancy in a trusteeship need not be
filled. A vacancy in a trusteeship must be filled if the trust has no remaining trustee.
(c) A vacancy in a trusteeship of a noncharitable trust that is required to be filled
must be filled in the following order of priority:
(1) by a person designated in the terms of the trust to act as successor trustee;
(2) by a person appointed by unanimous agreement of the qualified beneficiaries; or
(3) by a person appointed by the Probate Division of the Superior Court.
(d) A vacancy in a trusteeship of a charitable trust that is required to be filled must
be filled in the following order of priority:
(1) by a person designated in the terms of the trust to act as successor trustee; or
(2) by a person appointed by the Probate Division of the Superior Court.
(e) Whether or not a vacancy in a trusteeship exists or is required to be filled, the
Probate Division of the Superior Court may appoint an additional trustee or special
fiduciary whenever the Probate Division of the Superior Court considers the appointment
necessary for the administration of the trust. (Added 2009, No. 20, § 1; amended 2009, No. 154 (Adj. Sess.), § 236, eff. February 1, 2011.)