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The Vermont Statutes Online

 

Title 14A : Trusts

Chapter 007 : OFFICE OF TRUSTEE

(Cite as: 14A V.S.A. § 705)
  • § 705. Resignation of trustee

    (a) A trustee may resign:

    (1) upon at least 30 days' notice in writing to all cotrustees and to the qualified beneficiaries except those qualified beneficiaries under a revocable trust which the settlor has the capacity to revoke; or

    (2) with the approval of the Probate Division of the Superior Court.

    (b) In approving a resignation, the Probate Division of the Superior Court may issue orders and impose conditions reasonably necessary for the protection of the trust property.

    (c) Any liability of a resigning trustee or of any sureties on the trustee's bond for acts or omissions of the trustee is not discharged or affected by the trustee's resignation. (Added 2009, No. 20, § 1; amended 2009, No. 154 (Adj. Sess.), § 236, eff. Feb. 1, 2011.)