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question.jpgIn Trusts and Estates

How can a trustee resign?

Many trustees remain in their role for the life of the trust. Often times, however, a person may need to resign from his or her role as the trustee. Where the trust document provides what steps should be taken for trustee resignation, the trustee should obviously follow those steps. If the trust is silent on the issue, most states have laws dictating the steps the trustee must follow. These laws generally require the trustee to give formal notice, at least 30 days prior to resignation, to the beneficiaries, co-trustees and/or the court.