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Vt. Stat. Ann. tit. 14A, § 705

Resignation of trustee

Known as the Vermont Trust Code

The act spans §§ 14–14 (107 sections).

Added 2009, No. 20, § 1; amended 2009, No. 154 (Adj

(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.

Official source: Vermont General Assembly. Reproduced from public-domain Vermont statutes; confirm against the official source for the current text. Not legal advice.