2018 Vermont Statutes
Title 14A - Trusts
Chapter 7 - Office Of Trustee
§ 705 Resignation of trustee

Universal Citation: 14 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.)

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