Can a trustee resign?
Yes. If a trustee wants to resign, s/he can do so: As explained in the trust document; If the trust is revocable, by getting the person who has the power to revoke the trust to consent; If the trust is irrevocable, by consulting with all adult beneficiaries; or By getting a Court order after filing a petition asking the Court for permission to resign. Unless the beneficiaries say they do not want one, the trustee must file an accounting of all trust transactions while he or she was acting as trustee. • What if the acting trustee dies or resigns or can no longer be the trustee? If a trustee dies or resigns, is conserved or is declared “incompetent” by a court, or files for bankruptcy, then the trustee can no longer act as trustee and must be replaced. Some trusts have 2 or more co-trustees and the trust may say that the remaining co-trustee will be the sole trustee, or may say how a new trustee will be appointed. If the vacancy cannot be filled, then a trust company may agree to serve i
