2025 Session
Last amended: 2015 session
§ 501C.0705 — Resignation of Trustee
Plain-Language Summary
Explains how a trustee can resign from the role.
501C.0705 RESIGNATION OF TRUSTEE.
(a) A trustee may resign:
(1) upon notice to the qualified beneficiaries, the settlor, if living, and all cotrustees; or
(2) with the approval of the court.
(b) In approving a resignation, the 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.
History:
History: History:
2015 c 5 art 7 s 5
Practical Notes
A trustee can resign by giving notice to the beneficiaries and getting court approval if needed.